A. Mixed economy B. Socialism C. Command economy D. Capitalism Correct Answer: Option D D. Capitalism Explanation The market mechanism…
A. Sales by Auction B. Tender C. Higgling and Haggling D. Price Control Correct Answer: Option C C. Higgling and…
A. production of goods and services B. distribution of wealth C. allocation of resources for growth D. creation of utility…
A. promoting co-operation and integration B. to facilitate the expansion of international trade C. to provide insurance D. to ensure…
A. Oil glut B. Oil spill C. Oil shock D. Oil wastage Correct Answer: Option B D. Oil wastage Explanation…
A. Wholesale Price Index B. Consumer Price Index C. National Income D. Retailer's Price Index Correct Answer: Option C C.…
A. its capital may not be increased without government permission B. the proprietor is personally liable for the firm's debts…
A. sacred land B. individual land C. communal land D. rent land Correct Answer: Option C C. communal land Explanation…
A. Import monopoly B. Import license C. Import quota D. Embargo Correct Answer: Option B B. Import license Explanation Import…
A. Primary sector B. Secondary sector C. Tertiary sector D. Education sector Correct Answer: Option A A. Primary sector Explanation…