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Question
Give any one merit and one demerit of a socialist economy.
Give any one merit and one demerit of a socialist economy.
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Solution
Merit of Socialist Economy It promotes equitable distribution of income.
Demerit of Socialist Economy It suffers from the drawbacks of a bureaucratic set up in the form of red-tapism and corruption.
Merit of Socialist Economy It promotes equitable distribution of income.
Demerit of Socialist Economy It suffers from the drawbacks of a bureaucratic set up in the form of red-tapism and corruption.
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