Question : A 'Market Economy' is one in which
Option 1: is controlled by the government
Option 2: is free from the government control
Option 3: is influenced by international market forces
Option 4: All of these
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Correct Answer: is free from the government control
Solution : The correct answer is free from government control.
An economic system known as a market economy is one in which businesses and individual citizens of a nation collectively interact to determine economic policy and the cost of goods and services. Government involvement is minimal. It is a form of economic system in which supply and demand, rather than government intervention, control the economy. An economy with a truly free market is one in which every resource is privately owned.
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Question : One of the features of a free market economy is
Option 1: active state intervention
Option 2: public ownership of factors of production
Option 3: rationing and price control
Option 4: consumer's sovereignty
Question : Which among the following is a 'Modifier key'?
Option 1: Control
Option 2: Shift
Option 3: Alt
Option 4: All options are correct
Question : Expand the term IPCC :
Option 1: International Panel of Climate Control
Option 2: Interim Panel of Climate Change
Option 3: Intergovernmental Panel on Climate Change
Option 4: International Pollution Control Council
Question : Which of the following is one of the Open Market Operations of the Reserve Bank of India?
Option 1: Buying and selling of bonds issued by the Government in the open market
Option 2: Buying and selling of bonds issued by commercial banks in the open market
Option 3: Only buying of bonds issued by the Government in the open market
Option 4: Only selling of bonds issued by the Government in the open market
Question : The newsprint sector in our country is governed by which order from the following?
Option 1: National Print Control Order, 2001
Option 2: Newsprint Control Order, 2004
Option 3: Newsprint Commission Order, 2006
Option 4: National Press Control Order, 2003
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