One of the fundamental differences between a capitalist a...
One of the fundamental differences between a capitalist and a socialist economy is that while
The former is characterized by complete government ownership of resources, the latter characterized by complete private ownership
In the former, prices act as signals in the allocation of resources, it is central authority that performs this function in the letter
Taxes are levied in a capitalist economy, there is no taxation in a capitalist economy
Income and wealth are equally distributed in the socialist economy, this is not so in a capitalist economy
Correct answer is B
No explanation has been provided for this answer.
The responsiveness of demand to a change in income is the measurement of ...
Data presented in table are usually arranged in ...
The supply of labour can be influenced by the ...
Opportunity cost is a term that describes ...
In national income accounting, NNP is derived by subtracting from the GNP ...
Which of the following is true about supply of land? ...
A country is economically rich if ...
If a commodity has a high marginal utility, its market price will be ...