Answer:
False
Explanation:
The characteristic of a capitalist economy is private ownership of businesses and means of production. It depends on free market for income prices and distribution of goods. while a socialist economy is characterised by government intervention for allocating the resources among its populations, prices are determined by the government.
Most of the countries today are mixed economies in which features of both capitalist and socialist economies are utilised as pure free market economies are prone to slowdowns, such a slowdown started in October 1929 in US. After that US government started to intervene in economic activities to achieve social aims. Mixed economies maintain private ownership and control of the means of production under government regulation, some industries are also under government control to produce public goods.
<em>US is a mixed economy.</em>
The statement is true of a household budget is Income should be more than expenses. Thus the correct answer is C.
<h3>What is the budget?</h3>
The budget is an estimation that records our financial expenses over the income. It helps to control the expenses and by remembering about the income. It helps in setting up limitations on spending.
The household budget includes the purchasing of items related to the house.It reflects how the money will be applied and distributed among various commodities, services, and savings. It includes essentials like grocery, rent, daily maintenance of the house, transportation, and so on.
When planning a budget for a household it should be tried that Income should be more than expenses. Therefore, option C is appropriate.
Learn more about Budget, here:
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Is this a question? If yes, what exactly do you mean?:)
Answer:
True
Explanation:
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