Question

Which of the following is/are not an aspect of the social system?

• A. Economic freedom of individuals
• B. No wastage of resources
• C. Removal of disparity in income
• D. Exploitation of consumers

Answer 1

Answer: (A), (D)

Exploitation of consumers

In the social system, the resources of production are owned by the state. The system focuses on social welfare over profit. Some of the advantages of the social system are a minimum wastage of resources, addressal of income disparity, and protection of consumers.