Question : The planned economy in India is based on which system?
Option 1: Capitalist system
Option 2: Traditional system
Option 3: Command system
Option 4: Socialist system
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Answer (1)
5th Jan, 2024
Correct Answer: Socialist system
Solution : The correct answer is the Socialist system.
A planned economy is a type of economic system where the distribution of goods and services or the investment, production the allocation of capital etc. are focussed. The socialist system is the foundation of the planned economy in India.
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