Indian Economy

General Studeis (IB)

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Indian Economy - Understanding the basics of Indian economic system

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In which economic system the goods produced are distributed among people not on the basis of what people need but on the basis of Purchasing Power?

Socialist

Mixed

Capitalist

Marxist

Explanation:

Capitalism is an economic system in which capital goods are owned by private individuals or businesses. The production of goods and services is based on supply and demand.

By: MIRZA SADDAM HUSSAIN

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