Which of the following statement is true in relation to the socialist economy? Statement-I: Relative inequality of income distribution in the…
CA Foundation · Business Economics · PYQS · September 2025
Which of the following statement is true in relation to the socialist economy? Statement-I: Relative inequality of income distribution in the society. Statement-II: Freedom from hunger is guaranteed, but consumers' sovereignty gets restricted. Statement-III: Market forces have a major role in the allocation of resources. Statement-IV: Buyers ultimately determine which goods and services will be produced and in what quantities.
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. Statement - II
Topics: Nature & Scope of Business Economics