2022 · Q117
Among the following countries, where did the idea of ‘Social Market Economy’ emerge in 1950s ?
General KnowledgeIndian Economy
- AGermany
- BFrance
- CUnited States of America
- DUnited Kingdom
Explanation
The 'social market economy' (soziale Marktwirtschaft) emerged in West Germany in the 1950s under Ludwig Erhard, combining free markets with social welfare. It did not originate in France, the USA or the UK. Hence Germany.