In the classical system, the basic economic problems are solved by:

Related MCQs

• In a free enterprise economy, the problems of what, how and for whom to produce are solved by :
• _____ has distinguished between different types of societies on basis of economic system.
• Which of the following definitions of Economics include the economic concept of ‘scales of Preferences’?
• Micro economic theory studies how a free enterprise economy determines:
• The meaning of the word ‘economic’ is most closely associated with the word:
• The validity of an economic theory is judged by its power to:
• In economic theory the costs of a firm
• The average total costs of the firm as defined in standard economic theory