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Based on the following conversation
Ram : “Rise in prices of goods have made it difficult to make two ends meet”
Shy am : “Yes, the cost of cultivation too has increased very much”.
Raghu : “Government should take steps to curb the price rise and provide relief to common man”.
Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.
Q. In the above conversation whose statements shows normative side of economics
  • a)
    Shyam
  • b)
    Raghu
  • c)
    Bhola
  • d)
    Both (b) and (c)
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Based on the following conversationRam : “Rise in prices of good...
Hello, how are you doing today?
Shyam: I'm doing pretty well, thanks for asking. How about you?
Ram: I'm doing well too, thanks. So, what have you been up to lately?
Shyam: Not much, just been busy with work. You?
Ram: Same here, work has been keeping me busy. But I did manage to catch up on some movies over the weekend.
Shyam: Oh, that's nice. What did you watch?
Ram: I watched a couple of old classics - The Godfather and Casablanca.
Shyam: Oh, those are some great movies. I haven't seen them in a while. Maybe I should re-watch them too.
Ram: Yeah, you should. They're timeless classics that never get old.
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Community Answer
Based on the following conversationRam : “Rise in prices of good...
SHOULD and OUGHT TO both word show that statement is normative so Raghu and Bhola both statement shows normative side of economic
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Features of a Mixed Economy:A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It incorporates features of both private enterprise and government intervention. The correct answer is D, as all of the following features are characteristic of a mixed economy:1. Planned economy:A mixed economy includes elements of a planned economy, where the government plays a role in guiding and regulating economic activities. It formulates economic plans and policies to ensure the efficient allocation of resources and to promote economic stability.2. Dual system of pricing:In a mixed economy, there exists a dual system of pricing, which means that both market prices and government-set prices coexist. While market forces determine prices for most goods and services, the government may intervene to regulate prices in certain sectors to protect consumers or promote social welfare.3. Balanced regional development:Another characteristic of a mixed economy is the emphasis on balanced regional development. The government intervenes to ensure that economic growth and development are not concentrated in specific regions or industries but are spread across different regions and sectors. This helps to reduce regional disparities and promote overall economic stability and social welfare.Benefits of a Mixed Economy:A mixed economy offers several benefits due to its combination of market forces and government intervention. Some of these benefits include:1. Economic efficiency:By incorporating market mechanisms, a mixed economy allows for resource allocation based on supply and demand, which promotes economic efficiency. Market forces encourage competition, innovation, and productivity, leading to higher levels of economic growth.2. Social welfare:Government intervention in a mixed economy enables the provision of public goods and services that may not be adequately provided by the market alone. This includes areas such as healthcare, education, infrastructure, and social security, ensuring a certain level of social welfare and equity.3. Stability and regulation:The government's role in a mixed economy helps to maintain economic stability through macroeconomic policies such as fiscal and monetary measures. It also regulates certain sectors to prevent market failures, protect consumer rights, and ensure fair competition.Conclusion:A mixed economy combines the advantages of both market forces and government intervention. It allows for economic efficiency, social welfare, and stability. The features of a mixed economy include elements of a planned economy, a dual system of pricing, and balanced regional development. These features work together to create a system that promotes both economic growth and social welfare.

Based on the following conversationRam : “Rise in prices of goods have made it difficult to make two ends meet”Shy am : “Yes, the cost of cultivation too has increased very much”.Raghu : “Government should take steps to curb the price rise and provide relief to common man”.Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.Q.In the above conversation whose statements shows normative side of economicsa)Shyamb)Raghuc)Bholad)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer?
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Based on the following conversationRam : “Rise in prices of goods have made it difficult to make two ends meet”Shy am : “Yes, the cost of cultivation too has increased very much”.Raghu : “Government should take steps to curb the price rise and provide relief to common man”.Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.Q.In the above conversation whose statements shows normative side of economicsa)Shyamb)Raghuc)Bholad)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Based on the following conversationRam : “Rise in prices of goods have made it difficult to make two ends meet”Shy am : “Yes, the cost of cultivation too has increased very much”.Raghu : “Government should take steps to curb the price rise and provide relief to common man”.Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.Q.In the above conversation whose statements shows normative side of economicsa)Shyamb)Raghuc)Bholad)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Based on the following conversationRam : “Rise in prices of goods have made it difficult to make two ends meet”Shy am : “Yes, the cost of cultivation too has increased very much”.Raghu : “Government should take steps to curb the price rise and provide relief to common man”.Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.Q.In the above conversation whose statements shows normative side of economicsa)Shyamb)Raghuc)Bholad)Both (b) and (c)Correct answer is option 'D'. Can you explain this answer?.
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