Join / Login
Question

Which of the following statements regarding Market Economy is not true?

A

Price plays a major role in market economy.

B

The Government controls production and distribution of goods.

C

Consumers choose the goods they want.

D

Efficiency is achieved through profit motive.

Medium

Solution

verified
Verified by Toppr
Correct option is
B

The Government controls production and distribution of goods.

Market economy has private ownership where utilisation of resources and henceforth distribution of goods takes place for private gains.
The government has no role to play production and distribution of goods.

Was this answer helpful?

upvote 0
downvote0