Assertion (A): In a capitalist economy, private entities own resources, whereas in a socialist economy resources are owned by the state.
There are two statements given below marked as Assertion (A) and Reason (R). Read the statements and choose the correct option.
Assertion (A): In a capitalist economy, private entities own resources, whereas in a socialist economy resources are owned by the state.
Reason (R): In a socialist economy, it is assumed that the government knows the exact needs of the people.
A. A is true but R is false.
B. A is false but R is true.
C. Both A and R are true and R explains A.
D. Both A and R are true and R does not explain A.
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