Match List - I with List - II. List - I (A) Market economy (B) Service of a Teacher (C) Centrally…
A Market economy (A) is privately controlled through supply and demand (IV); the Service of a Teacher (B) represents professional human capital and skill (III); a Centrally…
Choose your answer
Match List - I with List - II.
List - I
(A) Market economy
(B) Service of a Teacher
(C) Centrally planned economy
(D) Positive economy
List - II
(I) Government controlled
(II) Functioning of a mechanism
(III) Skill
(IV) Private Controlled
Answer and explanation
Correct answer C
A Market economy (A) is privately controlled through supply and demand (IV); the Service of a Teacher (B) represents professional human capital and skill (III); a Centrally planned economy (C) is government controlled (I); and Positive economics (D) objectively describes and explains the functioning of an economic mechanism without normative value judgements (II).
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UGC NET Education