Multiple choice

Which of the following is also known as controlled economy?

  1. Capitalist economy

  2. Socialist economy

  3. Mixed economy

  4. Communist economy

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

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