MCQ practice · SSC Bangladesh and Global Studies Board questions · Chapter 10: The National Resources and the Economic Systems
Which economic system is called the free market economy?
Think it through first, then pick an option.
- a Islamic
- b Socialist
- c Mixed
- d Capitalist
Answer and explanation
Correct answer: d Capitalist
The capitalist economy is often called the free market economy.
Why the other options are wrong
- a Islamic: In the islamic system economic functions run by the Shariah and interest is prohibited. The point asked is not of this system but of the capitalist system: it is capitalism that is called the free market economy.
- b Socialist: In the socialist system the factors of production are state-owned and everything runs under a central plan. The point asked is not of this system but of the capitalist system: it is capitalism that is called the free market economy.
- c Mixed: In the mixed system the public and private sectors coexist. The point asked is not of this system but of the capitalist system: it is capitalism that is called the free market economy.
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