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Questions and Answers
What does economic planning entail?
What does economic planning entail?
- Utilisation of country's resources in accordance with national priorities (correct)
- Solving central problems of an economy
- Maximization of private profit through government intervention
- Adoption of new technology and change in social outlook
What is the primary indicator of growth according to the text?
What is the primary indicator of growth according to the text?
- Increase in production capacity of goods and services
- GDP derived from agriculture, industrial sector, and service sector (correct)
- Adoption of new technology
- Development through domestic resources
What are the basic goals of the 5-year plan according to the text?
What are the basic goals of the 5-year plan according to the text?
- Utilization of country's resources, modernization, and change in social outlook
- Growth, modernization, and self-reliance (correct)
- Maximization of private profit, social welfare, and self-reliance
- Solving central problems of an economy, adoption of new technology, and change in social outlook
Which country adopted a socialist economic system?
Which country adopted a socialist economic system?
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What does a mixed economic system entail?
What does a mixed economic system entail?
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