The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
Correct answer: C. Both
- A. Pure capitalism
- B. Iaissez faire capital
- C. Both
- D. None
Explanation
Pure capitalism, also called laissez-faire capitalism, is based on private ownership and market prices coordinating economic activity. Since options A and B describe the same system, “both” is the appropriate choice.
Last updated
Practise Agricultural Economics and Extension
190 free Agricultural Economics and Extension MCQs from Agriculture, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Agriculture questions like this
Agriculture is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
Related questions
A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
A. Cetris peribus stands for__________________?
A closed economy that attempts to be completely self-reliant ?
A commercial bank authorized by state govt. to engage in business of banking ?