Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Introduction

Question:

Which of the following options has a market economy established in their country?

Options:

China

India 

USA   

Russia

Correct Answer:

USA   

Explanation:

Market economy refers to the economy where all the decisions regarding the economic activities are taken by the market forces of demand and supply. For example: USA

Russia and China has a centrally planned economy whereas, India follows a mixed economic system.