Q: Which one of the following central features is not associated with Capitalist Economy?
(a)There is generalised commodity production — it has market value.
(b)Productive wealth is held predominantly in private hands.
(c)Economic life is organised according to market principles.
(d)Economic organisation is based on planning, a supposedly rational process of resource allocation.
Correct Answer: (d)
The correct answer is (a) 'There is generalised commodity production — it has market value.'. This question from the Indian Economy domain tests knowledge of Economic Planning & Reforms.