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Economics - Questions and Answers

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361. In capiralism, the price of a commodity is determined by
A. Production unit
B. Consumers of the product
C. Share holders of the production unit
D. Market mechanism
Explanation:
362. The probable action during the transitional period between Capitalism and Socialism is
A. International movement
B. Inevitability of violence
C. Classless society
D. Dictatorship of the Proletariat
Explanation:
363. Who is called the ""Father of Economics"" ?
A. Max Muller
B. Karl Marx
C. Adam Smith
D. None of these
Explanation:
364. Which of the following is not associated with Socialism
A. Communism
B. Fascism
C. Fabianism
D. Syndicalism
Explanation:
365. What is "" Recession"" ?
A. Rise in the cost of production, especially because of wage increases
B. Increase in money supply without a matching increase in production
C. Increase in money supply and employment for want of sufficient demand for goods
D. None of these
Explanation:
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