Key features of Capitalism include private property, free markets, competition, wage labour, and profit motive. Central planning is a characteristic of socialist or command economies.
Which one of the following central features is not associated with Capitalist Economy ?
Asked in UPSC CDS 2 2022 · Topic: Nature of Indian Economy (Mixed Economy Framework)
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Answer: D. Economic organisation is based on planning, a supposedly rational process of resource alloca‐ tion.
More Economic Development questions
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