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InterviewSolution
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Economic independence is maintained in market mechanism system. Give reason. |
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Answer» In market mechanism system, there is no interference from anybody and hence the entrepreneur. There is very less wastage of resources in this system. Entrepreneurs can innovate and invent new products. Moreover, the producers are free to distribute their products the way they want. Thus, because of the freedom one enjoys in respect to production and distribution. In this system, we can say that economic independence is maintained in market economic system. Mixed economy works as the middle way to adopt good points and ignore bad points of both market system and socialist system. |
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