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Statistical Assistant 2025
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Economics
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Question
Which of the following best describes the main difference between a market economy and a planned economy?
Board:
JKSSB
A
Both systems rely on government intervention for economic decisions.
B
In a market economy, supply and demand determine production and pricing, while in a planned economy, the government makes these decisions.
C
In a market economy, the government sets all prices, while in a planned economy, businesses do.
D
There is no difference between the two systems.
Statistical Assistant 2025
Economics
Attempts:
663
• Right:
580
• Wrong:
83
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