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Home Questions RQUF4V4EQT
Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

In the question given below there are 2 statements marked as Assertion (A) and Reason (R). Choose the correct alternative from the following options.
Assertion (A)- Cuba follows socialistic principles in order to perform economic activities.
Reason (R)- The government does not play an active role in socialism and market forces decide the demand and supply of economy.

Options:

Both (A) and (R) are true and (R) is the correct explanation.

Both (A) and (R) are true but (R) is not the correct explanation of (A).

(A) Is true but (R) is false.

(A) Is false but (R) is true.

Correct Answer:

(A) Is true but (R) is false.

Explanation:

Cuba and China follows socialism. Socialism is a type of economic system, where the government plays a major role in decision making and the power lies entirely in their hands. They exercise the control on production activities and land holdings of their country. Majority of work is done for the welfare of nation and spreading equity. Socialistic principles involves promotion of equity.

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