Topics:
CH-8: COMPARATIVE DEVELOPMENT EXPERIENCES OF INDIA AND ITS NEIGHBOURS, Indian Economic Development, NCERT Books
Dual Pricing System in China
China's reform process involved dual pricing, which means:
- All prices were fixed by the government
- Fixed quantities at government prices and rest at market prices — Correct Answer
- All prices were determined by the market
- Prices were determined by foreign investors
Explanation:
Correct Answer Explanation
Dual pricing means farmers and industrial units were required to buy and sell fixed quantities at government prices and the rest at market prices.
Key Points:
- As production increased, proportion of goods transacted at market prices also increased.
- This was a gradual transition from planned to market economy.
- Special economic zones were set up to attract foreign investors.
Why Other Options Are Wrong
- A, C, D: Dual pricing specifically combined both government and market prices.
📚 About this Topic — CH-8: COMPARATIVE DEVELOPMENT EXPERIENCES OF INDIA AND ITS NEIGHBOURS
This multiple choice question is from CH-8: COMPARATIVE DEVELOPMENT EXPERIENCES OF INDIA AND ITS NEIGHBOURS, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-8: COMPARATIVE DEVELOPMENT EXPERIENCES OF INDIA AND ITS NEIGHBOURS to strengthen your preparation.
