CA CPT Exam > CA CPT Questions > Which of the following is not the feature of ...
Start Learning for Free
Which of the following is not the feature of socialist economy ?
- a)Economic planning
- b)Social welfare
- c)Private ownership of productive resources
- d)Economic equalities
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Which of the following is not the feature of socialist economy ?a)Econ...
Socialist economy is an economic system in which the means of production and distribution are owned and controlled by the state or by the community as a whole. The main features of socialist economy are:
Economic planning: In a socialist economy, the state or the central planning agency decides what to produce, how much to produce, and at what price to sell. The resources are allocated according to the needs of the society rather than the profit motive.
Social welfare: The socialist economy aims to provide social welfare to all the citizens. It provides free education, healthcare, housing, and other basic amenities to the people.
Economic equalities: In a socialist economy, the income and wealth are distributed equally among the citizens. There is no concept of private ownership of property, and the resources are shared among the people.
However, the feature that is not a part of socialist economy is:
Private ownership of productive resources: In a socialist economy, the means of production and distribution are owned and controlled by the state or by the community as a whole. There is no concept of private ownership of property.
Therefore, option (c) is the correct answer.
Economic planning: In a socialist economy, the state or the central planning agency decides what to produce, how much to produce, and at what price to sell. The resources are allocated according to the needs of the society rather than the profit motive.
Social welfare: The socialist economy aims to provide social welfare to all the citizens. It provides free education, healthcare, housing, and other basic amenities to the people.
Economic equalities: In a socialist economy, the income and wealth are distributed equally among the citizens. There is no concept of private ownership of property, and the resources are shared among the people.
However, the feature that is not a part of socialist economy is:
Private ownership of productive resources: In a socialist economy, the means of production and distribution are owned and controlled by the state or by the community as a whole. There is no concept of private ownership of property.
Therefore, option (c) is the correct answer.
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following is not the feature of socialist economy ?a)Econ...
There is full control of government on all resources and market for the social welfare and protecting public from exploitation and monopoly of private sector.
hence, there is no control of private sector on resources.
hence, there is no control of private sector on resources.
Attention CA CPT Students!
To make sure you are not studying endlessly, EduRev has designed CA CPT study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA CPT.
|
Explore Courses for CA CPT exam
|
|
Similar CA CPT Doubts
Top Courses for CA CPTView all
Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer?
Question Description
Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. 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 Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. 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 Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer?.
Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. 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 Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. 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 Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA CPT.
Download more important topics, notes, lectures and mock test series for CA CPT Exam by signing up for free.
Here you can find the meaning of Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following is not the feature of socialist economy ?a)Economic planningb)Social welfarec)Private ownership of productive resourcesd)Economic equalitiesCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CA CPT tests.
|
|
Explore Courses for CA CPT exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup