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.
 

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 : 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 1991 economic policy led to a shift from a __________ economy to a market-oriented economy.

Option 1: Socialist

Option 2: Capitalist

Option 3: Mixed

Option 4: Command