In Which of the Following Type of Economy, the Revenue

question 22

Multiple Choice

In which of the following type of economy, the revenue from taxation is likely to be the least?

• A)free market economy
• B)keynesian economy
• C)mixed economy
• D)socialist economy

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Definitions:

Basically Competent

Refers to a minimal level of skill or knowledge that is deemed adequate to perform a task or duty.

Basically Incompetent

An informal description implying that an individual lacks the basic skills or abilities to perform effectively in a particular task or role.

Hard Workers

Individuals who consistently exert a great deal of effort in their tasks and responsibilities, often going above and beyond what is expected.

Indolent Workers

Employees who show a lack of activity or effort in their duties, often avoiding tasks or doing them slowly.