Question : In a mixed economy

Option 1: all economic decisions are taken by the central authority.

Option 2: all economic decisions are taken by private entrepreneurs.

Option 3: economic decisions are partly taken by the state and partly by the private entrepreneurs.

Option 4: None of the above.

Question : Which of these is not a characteristic of a free-enterprise economy?

Option 1: Decisions are based on the forces of demand and supply.

Option 2: Factor rewards are based on the productivity of factors of production.

Option 3: All economic decisions are taken by the economic planners.

Option 4: Economic decisions are regulated by the market.

Question : It is defined as making major economic decisions by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economy as a whole.
 

Option 1: Economic planning
 

Option 2: Mixed economy
 

Option 3: Socialist economy
 

Option 4: Capitalist economy
 

Question : The economic system in which all the means of production are owned and controlled by private individuals for profit.

Option 1: Socialism

Option 2: Capitalism

Option 3: Mixed economy

Option 4: Communism

Question : When means of production are owned, controlled and operated by Private sector.
 

Option 1: Capitalist economy
 

Option 2: Socialist economy
 

Option 3: Mixed economy
 

Option 4: All of the above.
 

Question : When means of production are owned, controlled and operated by both public and private sector.
 

Option 1: Capitalist economy
 

Option 2: Socialist economy
 

Option 3: Mixed economy
 

Option 4: All of the above.