In which economy, the material means of production i.e. factories, capital, mines, etc. are owned by the whole community represented by the State ?
CA Foundation · Business Economics · PYQS · September 2024
In which economy, the material means of production i.e. factories, capital, mines, etc. are owned by the whole community represented by the State ?
Suggested Answer and Working Notes:
Correct Answer: Option (B)
B. Socialist Economy
Topics: Theory of Production and Cost