Mixed economy means an economy where
A. Both agriculture and industry are equally promoted by the state
B. There is co-existence of public sector along with private sector
C. There is importance of small scale industries along with heavy industries
D. Economy is controlled by military as well as civilian rulers
Answer: Option B
Solution(By Examveda Team)
Mixed economy means an economy where there is co-existence of public sector along with private sector. All modern economies are mixed where the means of production are shared between the private and public sectors. Also called dual economy.The capital that is consumed by an economy or a firm in the production process is known as
A. Capital loss
B. Production cost
C. Dead-weight loss
D. Depreciation
Who propounded the opportunity cost theory of international trade?
A. Ricardo
B. Marshall
C. Heckscher & Ohlin
D. Haberler
Which among the following statement is INCORRECT?
A. On a linear demand curve, all the five forms of elasticity can be depicted
B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.
C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.
D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.
A. Increase
B. Decrease
C. Remain the same
D. Become zero
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