Consider the following statements with regard to various models of the economy:

1. Socialist economy works for the welfare of all sections of society.

2. Capitalist economy focuses only on the economic welfare of society.

3. India, since its independence has been a hub for practising a socialist model of the economy.

How many of the above statements are correct?

1
Only one
2
Only two
3
All three
4
None
5
Only three

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