Question

1)Which of the following is not come under the features of a capitalist economy ?
a) private ownership of means of production
b) Goods are sold at a price
c) public utility services are provided by private individuals
2) ln a centrally planned economy all important decision regarding production, exchange and consumption are taken by
a) The government
b) The market
c) Either of (a)and (b)
3)Classify the following under the heads micro and macro
a) Government regulations on auto emissions
b)price elasticity of refrigerator
c)A family's decision about how much income to save
d) The impact of higher national savings on economic growth
4) Which of the following is related with the choice of technology in production?
a) what to produce
b) how to produce
c) for whom to produce
5) Central problems of an economy arises due to which one of the following ?
a)Relative scarcity of resources
b) Abundance of labour and capital
c)Limited human wants​

Answer 1

Answer:

1.) B. Good are sold at a price.

2.)A. The government.

Answer 2

1)ans_gooD's are sold at a price

2)ans_the government

3)ans_a family decision about how much income to save

4)ans_ how to produce

5)ans_limited human wants