Which of the following statements regarding Market Economy is not true?
Price plays a major role in market economy.
Consumers choose the goods they want.
The Government controls production and distribution of goods.
Efficiency is achieved through profit motive.

Question

Which of the following statements regarding Market Economy is not true?
Price plays a major role in market economy.
Consumers choose the goods they want.
The Government controls production and distribution of goods.
Efficiency is achieved through profit motive.

Toppr Admin · Accepted Answer

Market economy-xA0-has private ownership-where utilisation-xA0-of resources and henceforth distribution of goods takes place for private gains-The government has no role to play production and distribution of goods-

Which of the following statements regarding Market Economy is not true?Price plays a major role in market economy.Consumers choose the goods they want.The Government controls production and distribution of goods.Efficiency is achieved through profit motive.

Market economyhas 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.

Which of the following statements regarding Market Economy is not true?
Price plays a major role in market economy.
Consumers choose the goods they want.
The Government controls production and distribution of goods.
Efficiency is achieved through profit motive.

Market economyhas 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.