Practicing Success
In _____________ economy, private sector dominates the economic activity. Which of the following options suits best in the above blank? |
mixed market centrally planned None of the above |
market |
The Correct Answer is option 2: market In market economy, private sector dominates the economic activity. In centrally planned economy, the government is responsible for all the decisions regarding the economic activities. Whereas, in mixed economy, both, government and market forces play an important role in price determination. |