Read the passage and answer the following questions.

Shubham works for Ministry of External Affairs and was given a chance to visit China for work purpose. In China, he noticed that people didn’t even have basic rights like freedom to speak and had no right over the production activities they performed. He was disappointed with their state and came home happily realizing that in India everyone can exercise their rights without any bondage from the government or any other entity. But the question which came in his mind was that if India has such an efficient economic system then why we still face such a huge level of unemployment. He went to his friend Rajan who worked for Planning Commission of India. He asked Ranjan, "What do you think is the solution to the problem of unemployment?" to which Ranjan replied, "Strengthening the Manufacturing sector will lead to reduction in unemployment."

According to the passage what do you think is the drawback of socialistic economic system?

All of the above

In theory we realized that socialistic form of government tends to work for the welfare of people but it is not always the case. Many disadvantages faced by the socialist economy are as follows:

• Control is exercised by limited people leading to exploitation.
• As production activity is controlled by the government, it can manipulate policies for it's vested interests.
• Market forces do not determine the demand and supply which results in formation of market with no competition.