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- (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
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By: AARTI ProfileResourcesReport error
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