New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Labour intensive techniques are used for the production

    of goods and services in which economy?
    A Liberal economy Correct Answer Incorrect Answer
    B Mixed economy Correct Answer Incorrect Answer
    C Socialist economy Correct Answer Incorrect Answer
    D Market economy Correct Answer Incorrect Answer

    Solution

    The sole objective of socialism is the maximum social welfare of the society. It means that there is no scope for exploitation of labour class. The government keeps a close eye on the needs of the poor masses while formulating plans. It is a labor-intensive setup.

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