Question
In a capitalist economic system, what is the primary
determinant for the allocation of goods and services?Solution
In capitalist economic systems, market forces drive the economy, with private ownership of capital and means of production. The allocation of goods and services is primarily determined by purchasing power rather than individual needs. This means that consumers must have sufficient financial resources to acquire goods, regardless of their necessity. This market mechanism can result in underproduction of essential goods like affordable housing for lower-income populations, as market-driven production responds to effective demand (backed by purchasing power) rather than need alone.
SANKALP Scheme is one of the important skill development programme sponsored by World Bank which is under implementation till_______.
What does the economic term 'Cross Demand' relate to?
Which of the following is not a money market instrument?
A want becomes a demand only when it is backed by the
Consumer sovereignty implies that consumers:
What is the minimum maturity period for which Commercial Paper (CP) can be issued?
What is Gender Parity Index (GPI)?
When to accomplish a particular necessity, the Demand of various goods is increased automatically into the market , it is known as ________________ .
Pradhan Mantri Ujjwala Yojana is related with
India International Exchange Limited (India INX) is a subsidiary of ________.
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