Q.
1
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A
Individuals and associates behave with economic motive of maximising their profit with least sacrifice or cost.
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B
The country’s major means of production are either owned by the Government or their use is controlled by the Government
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C
Producers, consumers and employees compete among themselves, as the resources and opportunities are limited.
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D
Price, the invisible hand, plays a predominant role in the flow of the factors of production and consumption.