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Question
Capitalist economy uses ______ as principal means of allocating resources.
Capitalist economy uses ______ as principal means of allocating resources.
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Solution
The correct option is C price
In a capitalist economy, price mechanism takes place where price is affected by the forces of demand and supply in the economy which leads to open competition in the market through which allocation of resources takes place very smoothly.
In a capitalist economy, price mechanism takes place where price is affected by the forces of demand and supply in the economy which leads to open competition in the market through which allocation of resources takes place very smoothly.
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