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371. According to Marx, Socialism is
A. a stage of historical evolution where state exists no linger
B. a transitional stage in the evolution of econimical systems
C. a stage on which capital is privately owned but distribution of product is according to need.
D. the final result of class struggle
Explanation:
372. National Product at market prices is higher than National Product at Factor Cost by the amount of
A. indirect taxes
B. subsidies
C. indirect taxes minus subsidies
D. indirect taxes plus subsidies
Explanation:
373. On which of the following goods, emphasis has been laid in our plans ?
A. Consumers goods
B. Producers goods
C. Substitutes for foreign goods
D. None of these
Explanation:
374. The term Utility means
A. Usefulness of a commodity
B. The satisfaction which a commodity yields
C. The service which a commodity is capable of rendering
D. None of these
Explanation:
375. Laissez faire is characterised by which of the following features ?1. Too much of State control2. Co-existence of public and private sectors3. Open and frank discussions4. General principle of non interference
A. 1 only
B. 2 and 3
C. 2, 3 and 4
D. 4 only
Explanation:
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