CameraIcon

SearchIcon

MyQuestionIcon

50

You visited us 50 times! Enjoying our articles? Unlock Full Access!

Free Markets and Efficiency

The total sur...

Question

The total surplus is maximised in the form of economy.

A

capitalist

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

B

socialist

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

C

communist

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

D

laissez faire

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

Open in App

Solution

The correct option is D laissez faire
The total surplus is maximised in the laissez faire form of economy. This is an economy with no control or regulation i.e. a market left to itself. Such a market achieves economic eficiency.

Suggest Corrections

thumbs-up

0

Similar questions

Q. If an allocation of resources maximises the total surplus, we say that the allocation exhibits .

Q. What is the ratio of the total surplus (in million tons) for the year 2005 to 2007 to total surplus for the year 2008 to 2010?

Q. The net total deficit/surplus is equal to?

Q. The surplus generated in the form of excess of income over expenditure is simply ________ in the capital fund.

Q. The surplus generated in the form of excess of income over expenditure is not distributed amongst the _________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Perfect Markets

ECONOMICS

Watch in App

explore_more_icon

Explore more

Free Markets and Efficiency

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon