Multiple Choice Question

What type of economy is followed in India?

• A
  Traditional Economy: Economic system based on goods, services, and work, all of which follow certain established trends.
• B
  Command Economy: A dominant centralized authority – usually the government – that controls a significant portion of the economic structure.
• C
  Market Economy: Economic system based on the concept of free markets.
• D
  Mixed Economy: Economic system that combine the characteristics of the market and command economic systems.