Question

Which of the following statements are True or False?
(i) On the basis of ownership of resources we can classify an economy as Rich
economy and Poor economy.
(ii) Socialist economy aims at maximization of social welfare.
(iii) Freedom of choice, profit maximization and private property are the
characteristics of a Socialist economy.
(iv) In a mixed economy public and private sectors co exist.

Answer 1

Answer:

i YES

ii TRUE

iii FALSe

iv true

Explanation:

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