Match List I with List IL List I nb...........

Economics (CUET) Introduction to Micro economics

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Match List - I with List - IL

List - I List - II

(A) Centrally planned economy (I) Depends on demand and supply forces

(B) Mixed economy (II) Economic problem

(D) Problem of choice (IV) Public and Private sector

Choose the connect answer from the options given below

(1)(A) - (I), (B) - (III), (C) - (IV), (D) - (II)

(2)(A) - (I), (B) - (II), (C) - (HI), (D) - (IV)

(3)(A) - (II),(B) (IV), (C) (Ill), (D) - (I)

(4)(A) - (III),(B) -(IV), (C) - (I), (D) - (II)

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CUET ECONOMIC Previous Year Paper 2022

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Explanation:

- (A) Centrally planned economy is associated with (III) Socialist economy because in this system, the government plans and controls major aspects of the economy.

- (B) Mixed economy is represented by (IV) Public and Private sector as it includes elements of both capitalism and socialism.

- (C) Market economy is linked to (I) Depends on demand and supply forces, because prices and production are determined by unrestricted competition between privately owned businesses.

- (D) Problem of choice relates to (II) Economic problem since it involves deciding how to allocate limited resources.

Correct Answer: 4