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
Based on the following conversation
Ram : “Rise in prices of goods have made it difficult to make two ends meet”
Shyam : “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, the government should deal strictly on hoarders and black marketers”.
Q. Shyam’s statement in the above conversation shows—
1 Crore+ students have signed up on EduRev. Have you? Download the App |
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. Bhola’s statement in the above conversation shows—
As compared to other economic systems, inequalities of incomes is relatively less in economic system
Price-mechanism is an important feature of –
(i) Market economy
(ii) Regulated economy
(iii) Mixed economy
(iv) Capitalist economy
Consumers and producers make their choices based on the market forces of demand and supply in—
The problem of what goods and services are produced and how much, is covered by the general term—
Capital intensive technique would be chosen in a
Which of the following statement is incorrect?