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Question
An economy in which economic decisions, regarding production in different sectors, the distribution of products and fixation of prices are taken by private entrepreneurs for the purpose of profit along with no control or pressure of the Government is called _____.
An economy in which economic decisions, regarding production in different sectors, the distribution of products and fixation of prices are taken by private entrepreneurs for the purpose of profit along with no control or pressure of the Government is called _____.
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Solution
The correct option is A Capitalistic economy
Capitalistic economy
is a system of economy in which production of goods and services is owned by
private individuals or businesses. In such economy decisions, regarding
production in different sectors, the distribution of products and fixation of
prices are taken by private entrepreneurs for the purpose of profit along with
no control or pressure of the Government.
Capitalistic economy is a system of economy in which production of goods and services is owned by private individuals or businesses. In such economy decisions, regarding production in different sectors, the distribution of products and fixation of prices are taken by private entrepreneurs for the purpose of profit along with no control or pressure of the Government.
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