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Wastes of competition are found in—
  • a)
    Capitalist economy
  • b)
    Socialist economy
  • c)
    Mixed economy
  • d)
    None of these
Correct answer is option 'A'. Can you explain this answer?

Answers

Waste of competition are found in capitalistic economy. This is because the prices are determined by the free interaction of the forces of demand and supply.

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Wastes of competition are found in—a)Capitalist economyb)Socialist economyc)Mixed economyd)None of theseCorrect answer is option 'A'. Can you explain this answer?
I though Socialist Economy

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Wastes of competition is found in socialist economy.. because in socialist economy government control all the affairs and restrict private enterprises to involve in some specific sectors.

Wastes of competition are found in—a)Capitalist economyb)Socialist economyc)Mixed economyd)None of theseCorrect answer is option 'A'. Can you explain this answer?
Why not socialist ?

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Waste of competition are found in capitalistic economy. This is because the prices are determined by the free interaction of the forces of demand and supply.