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InterviewSolution
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There is no scope of economic freedom in socialist system. Give reason. |
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Answer» In a socialist system, all the economic decisions are taken by the state i.e. government. The state owns all the resources of production. The government governs the factories, sets in production target and also sets the prices of goods and services produced. State takes decisions keeping social welfare in mind. As a result, there is no scope of economic freedom in socialist system. |
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