For an economy consisting of households and businesses only, which of the following is consistent with the circular flow of income and production?

In the circular-flow diagram

Which of the following is a limitation of the simple circular flow model?

Assertion: National plans are drawn up by the Government and both private and public sectors abide.
Reason: The central planning authority prepares the economic plans.

Assertion: Each individual and organization produce only those goods which ensure high profit.
Reason: Profit is the driving force behind all economic activities in a capitalistic economy

Given the chart, find the missing activity of an economy.

Find the missing flow from households to government in the diagram

Which of the following system leads to leads to frequent violent economic fluctuations and crises?

Identify which is not an example of capitalistic economy.

Who defined the following statement for an economy? “An economy is a cooperation of producers and workers to make goods and services that satisfy the wants of the consumers".

The growth and development of an economy and the factors determining them could be understood only through________

The value of net national product will be more than the value of net domestic product, if ________.

GDP indicates productive capacity for an ______.

Under social accounting method the economy is divided into _______ sectors.

Output = Income = _________

The difference between value of exports and imports of goods and services is known as

Goods and services produced in a year to satisfy immediate wants is known as ________.

GDP by expenditure at ________ price.

Nobel laureate Smimon Kuznets introduced the first concept of _________

A country which has no economic relations with other countries in termed as

Identify the economic system where only public ownership of production exists.

Identify the Father of Scientific Socialism.

The right to property exists largely in _______.

Socialist Economy promote  __________.

Example for Mixed Economy ________.