Question : 'Hire' and 'Fire' is the policy of:
Option 1: capitalism
Option 2: socialism
Option 3: mixed economy
Option 4: traditional economy
New: SSC Stenographer Application Form 2024 Released
Don't Miss: Month-wise current affairs
Suggested: Upcoming government exams
Correct Answer: capitalism
Solution : The correct option is capitalism .
A capitalist economy follows the "hire to fire" premise. Unlike in a mixed economy, the government preserves workers' jobs, lowering employee turnover.
Employers can recruit and dismiss workers based on their business requirements, a key feature of capitalist economies. In a capitalist economy, the government often does not interfere with the labour market, allowing supply and demand to determine how to secure jobs for people.
Socialism and mixed-economy systems usually offer stronger job protections and regulate dismissal policies to some degree, whereas, in capitalism, employers can hire and fire freely based on the requirements.
Application | Eligibility | Dates | FAQs
Question : Which of the following is not an important feature of the Industrial Policy of 1991?
Question : The largest mixed gland of the human body is
Question : According to the finance budget 2020-21, the target of 200 lakh tonnes of fish production by 2022-23 has been set as a part of the:
Question : Brahmagupta used the terms 'Kuttaka' and 'Kuttakaganita' to refer to:
Question : Directions: In the following question, some parts of the sentence may have some errors. Find out which part of the sentence has an error and select the appropriate option. If the sentence is free from error, select 'No Error'.
The light
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile