State another name for a Market Economy.

Socialist Economy

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Mixed Economy

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Capitalist economy

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None of the above

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Solution

The correct option is D Capitalist economy
Capitalist economy is the suitable other name for market economy because in the capitalist kind of economy, the price is determined by the market forces i.e. by the market forces and no government intervention exists.

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Economies of U.K. and U.S.A are termed as the capitalist economy or market economy. State true or false.

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