Economics True/False

Modernisation is necessary increase in the country's capacity to produce the output of goods and services within the country. (True/ False)

The deficit portion of agriculture produce which is sold into the market by the farmers is called marketed surplus. (True/ False)

Capitalist economy takes major economic decisions, i.e., what to produce, how to produce and for whom to produce. (True/ False)

Self-reliance refers to the utilisation of country's resources in order to promote economic growth and modernisation without using the resources imported from other countries. (True/ False)