Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Introduction

Question:

The main objective of capitalist economy is to do social welfare. Do you agree?

Options:

Yes, totally

Not at all

Partially agree

Partially disagree

Correct Answer:

Not at all

Explanation:

The correct answer is option 2: Not at all

In the context of traditional capitalist economic theory, the primary objective is typically understood to be the maximization of individual wealth and economic efficiency rather than direct social welfare. Capitalist economies emphasize the pursuit of profit, private property rights, market competition, and limited government intervention in economic activities. While it can be argued that capitalist economies can indirectly contribute to social welfare through factors such as economic growth, job creation, and innovation, the primary goal of capitalism is generally seen as the pursuit of individual economic interests rather than direct social welfare.