CameraIcon

SearchIcon

MyQuestionIcon

6

You visited us 6 times! Enjoying our articles? Unlock Full Access!

Effects of an Open Economy

In capitalist...

Question

In capitalistic economy ____________ helps in deciding allocation of economic resources.

A

consumer demand

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

production technology

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

firms supply

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

market prices

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D market prices
Market price helps in deciding allocation of economic resources. In capitalistic economy the market prices are determined by the free play of two market forces-demand and supply.

Suggest Corrections

thumbs-up

0

Similar questions

Q. In a capitalist economy, the allocation of resources is performed by _________.

Q. In a capitalistic economy, the prices are determined by ______.

Q. In a capitalist economy, economic decision-making happens through price mechanisms. Which of the following statements is true regarding price mechanism?

Q. A capitalist economy uses_____as the principal means of allocating resources.

Q. A capitalist economy uses ______ as the principal means of allocating resources.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Open Economy Economics

ECONOMICS

Watch in App

explore_more_icon

Explore more

Effects of an Open Economy

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon