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Market Distortions

The types of ...

Question

The types of economic system are based upon.

A

Per capita income

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B

Scarcity of resources

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C

Both a & b

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D

None of the above

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Solution

The correct option is A Per capita income
In capitalist economy, more importance in given to free market choices for the use of resources rather than social welfare of the people which includes all administrative concepts that contains per capita income of the buyer.

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