One of the fundamental differences between a capitalist a...
One of the fundamental differences between a capitalist and a socialist economy is that while
The former is characterized by complete government ownership of resources, the latter characterized by complete private ownership
In the former, prices act as signals in the allocation of resources, it is central authority that performs this function in the letter
Taxes are levied in a capitalist economy, there is no taxation in a capitalist economy
Income and wealth are equally distributed in the socialist economy, this is not so in a capitalist economy
Correct answer is B
No explanation has been provided for this answer.
If a commodity has many substitutes, it is most likely that? ...
The excess profit made by a firm in a competitive market situation in the short-term is known as ...
The condition for equilibrium price and quantity under perfect competition is ...
A country should embark on development planning to ensure that ...
In taxation, the benefit principle requires that ...
The main function of NNPC is to ...
Mixed economy refers to a system in which the means of production are controlled by ...