Four sector economy refers to which of the following.
This question was previously asked in
Shift 16/06/2023 3:30 PM - 6:30 PM
A
Closed Economy
B
Mixed Economy
C
Planned Economy
D
Open Economy
Correct Answer
Open Economy
Detailed Explanation
- There are four basic macroeconomic sectors of an economy, namely, household, business, government and foreign. These sectors reflect four key macroeconomic functions and are responsible for four expenditures on gross domestic product (GDP).
- Each sector has a unique role to play in macroeconomic activity .
- THIS TYPE OF ECONOMY KNOWN AS OPEN ECONOMY
Get Dubuddy App
Practice on the go with our mobile app
More CUET Questions
Test Series
CUET Subjects
Your CUET Journey Starts with DuBuddy
CUET ki Practice Means DuBuddy Pe Practice