Question Description
Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer?.

Solutions for Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Humanities/Arts. Download more important topics, notes, lectures and mock test series for Humanities/Arts Exam by signing up for free.

Here you can find the meaning of Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Assertion (A): In a market economy, prices serve as signals to both producers and consumers about the scarcity of goods and services. Reason (R): In a centrally planned economy, the government determines prices based on its production schedules.a)If both Assertion and Reason are true and Reason is the correct explanation of Assertion b)If both Assertion and Reason are true but Reason is not the correct explanation of Assertionc)If Assertion is true but Reason is falsed)If both Assertion and Reason are falseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Humanities/Arts tests.