Market economy is also known as:

Related MCQs

• In a free enterprise economy, the problems of what, how and for whom to produce are solved by :
• Who considered Political Economy as “an enquiry into the nature and causes of the wealth of nations”?
• The fundamental problem faced by an economy is one of :
• Micro economic theory studies how a free enterprise economy determines:
• Which of the following statements best describes the general form of a production function: (i) It is a purely technological relationship between quantities of input and quantities of output. (ii) It represents the technology of an organisation, sector of an economy. (iii) Prices of inputs or of the output do not enter into the production function. (iv) It is a flow concept describing the transformation of inputs into output per unitof time.
• The market equilibrium for a commodity is determined by
• A market:
• A market:
• The market equilibrium for a commodity is determined by:
• An increase in market supply, demand remaining the same causes: