MCQ practice · SSC Bangladesh and Global Studies Board questions · Chapter 10: The National Resources and the Economic Systems
Which economic system do Mr Bilal's activities match?
Think it through first, then pick an option.
- a Islamic
- b Capitalist
- c Socialist
- d Mixed
Answer and explanation
Correct answer: b Capitalist
Buying land oneself, building an industry and employing workers is private ownership and freedom of enterprise, that is, capitalism.
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: private ownership and freedom of enterprise.
- c 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: private ownership and freedom of enterprise.
- d Mixed: In the mixed system the public and private sectors coexist. The point asked is not of this system but of the capitalist system: private ownership and freedom of enterprise.
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