The Communist Party of India

question 55

Multiple Choice

The Communist Party of India

• A) advocates nationalization of key industries and a return to centralized economic planning.
• B) is a loosely organized party with little discipline among its members.
• C) objects to the creation of Special Economic Zones in which multinational corporations are offered tax breaks and other incentives.
• D) is a social democratic party that supports the market economy while seeking to gain greater benefits for the poor.
• E) has frequently been able to form ruling governments in many Indian state largely by appealing to the poor.

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Definitions:

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good.

Substitutability

The degree to which one good or service can be replaced by another in consumption, affecting consumer choices and market competition.

Total Cost

The sum of fixed and variable costs incurred by a business in producing a certain level of output.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating sensitivity.