Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:
Which principle guides the distribution of goods and services in a socialist society?
Options:
Purchasing power
Market demand
Individual needs
Profitability
Correct Answer:
Individual needs
Explanation:
the distribution under socialism is supposed to be based on what people need, rather than on their purchasing power or market demand. The aim is to meet the needs of individuals in society.