Directions How to Answer

Aptitude Test Topic: Economics

This section is comprised of MCQs on Economics.

Directions

The following are questions on Economics. Select the correct option to represent your answer.

To give the answer click/tap the option alphabet for your answer choice. for correct answer green check and for wrong answer a red cross will appear along with a button to show explanation with or without video of the question answer.

Economics: All Topics Practice MCQ

Question Statement:

In a Laissez-faire economy

the customers take all the decision regarding production of all the commodities

the Government does not interfere in the free functioning of demand and supply forces in the market

the private-sector takes all the decisions for price-determination of various commodities produced

the Government controls the allocation of all the factors of production

Explanation:

Correct Answer: B

Sol. Laissez-faire is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.

Question: 3 Test: 4 of 5 Next Test

Tests

You are taking Aptitude Test No. 4

Each aptitude test is comprised of 10 except the last test which might have fewer than 10 in some topics.

You are at question (MCQ) number 3 and Test Number 4 of Economics: All topics. To deal with Economics questions, you must take lesson on the subject. In case of science and Art subjects revise your text books and in case of general aptitude topics take lessons from the topic page.

The question: In a Laissez-faire economy .... with options: the customers take all the decision regarding production of all the commodities, the Government does not interfere in the free functioning of demand and supply forces in the market, the private-sector takes all the decisions for price-determination of various commodities produced, the Government controls the allocation of all the factors of production can be solved with the concepts and understanding of Economics.