The economy which produces only those consumer goods which are demanded by the buyers and which can ...........

Economics (CUET) Development Experience (1950-90)

The economy which produces only those consumer goods , which are demanded by the buyers and which can be sold in domestic or foreign markets profitably is known as : –

Market economy

Capital Economy

Both A and B

None of the above

छोटे Courses बड़े Results

Master Development Experience (1950-90)

Prepare through Micro-courses

Try Now

Explanation:

Capitalism refers to the creation of wealth and ownership of capital, production, and distribution, whereas a free market system has to do with the exchange of wealth or goods and services. Key features of capitalism include personal ownership of property, open competition, and individual incentives.