Question 10
MediumOriginal questionMatch each economic system with how it answers 'for whom to produce'.
| List I | List II |
|---|---|
| A. Capitalist | I. By the market, with the state filling gaps |
| B. Socialist | II. By purchasing power |
| C. Mixed | III. By custom and tradition |
| D. Traditional village economy | IV. By need, as the state judges it |
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
Capitalism distributes by the ability to pay; socialism by need; a mixed economy uses both.
A traditional economy follows custom.
- Concept
- Economic systems
- Typical timeTypical
- 90 s
- Your timeYours
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