Multiple choice

The level of consumption, investments, savings, production techniques, production policy etc. are exclusively decided by Government in

  1. capitalist economy

  2. socialist economy

  3. mixed economy

  4. all of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Socialist economy is always under direct control of state and means of production are under the state. Capitalist economy is also known as free market economy because the interference of state is least. Mixed economy lies in between the two extremes.