Question

What are the problems faced by the socialist economy?.List out from the following:

i.The public sector's investment potential is less and this affects economic growth adversely.

ii.In the absence of private ownership of wealth and transfer of wealth to the legal heir, people are less likely to work hard.

iii.Moreover, the consumers have only a limited choice of products.

• A. i only
• B. i and ii only
• C. ii and iii only
• D. i,ii and iii

Answer 1

Answer:

D. i,ii and iii