CHAPTER 4

TYPES OF ECONOMIES
WORKSHEET 1
Very short answer type questions (2marks) 50 words
Q1. Write short notes on the following:
a) Closed economy
b) Underdeveloped economy
c) Developed economy
d) Capitalist economy
e) Socialist economy
f) Mixed economy
Q2. State four characteristics which portray India as a developing economy.
Q3.What are the main types of economic systems on the basis of nature of
economic system?
Q4. State the types of economies on the basis of economic development.
Q5.State the features of a capitalist economy.
Q6 State the features of socialist economy.
Q7.State the features of a mixed economy.
Q8. What is price mechanism?
WORKSHEET 2
Long answer type question (5/6 marks)
Q1. Discuss any five features of capitalist economy.
Q2. Discuss any five features of socialist economy.
Q3. Discuss any five features of mixed economy.