Predominance of bureaucracy and the resulting inefficiency and delays which may lead to corruption, red tapism is a demerit of:

CA Foundation · Business Economics · PYQS · January 2026
Predominance of bureaucracy and the resulting inefficiency and delays which may lead to corruption, red tapism is a demerit of:
(A) A. Capitalist economy
(B) B. Socialist economy
(C) C. Consumer sovereignty
(D) D. Normative economy

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Socialist economy

Topics: Nature & Scope of Business Economics

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