Question

23. An economy in which means of production are
used in a manner such that social welfare is
maximised is called: *
1) capitalistic economy
2) socialistic economy
3) mixed economy
4) none of these​

Answer 1

Answer:

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Answer 2

Answer:

2) socialistic economy

Explanation:

A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). "Production under socialism would be directly and solely for use.