In a free market economy, resources are allocated through the

Economics

WAEC 2020

A. government department
B. price mechanisms
C. trade union
D. state planning committee.

Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Correct Answer: Option B

Explanation

In a free market economy, the allocation of resources and distribution of goods and services are made on the basis of the relative market price known as the price mechanism.

Previous Next

Go back to Econs classroom

Report an Error Ask A Question Download App

Your School's Whatsapp Group - Join Us now

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Contributions ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}

Quick Questions

what is isoelectronics series? Answer this

2 Answers · Chemistry · 1 day ago
what is the cut off marks for lafia federal university? Answer this

1 Answers · 1 day ago
49. Fill in the blank space with the correct word(s), from the options lettered A-D. In the sentence "The girl... Answer this

4 Answers · 2 years ago

In a free market economy, resources are allocated through the

Correct Answer: Option B

Explanation

Contributions ({{ comment_count }})

Please wait...

Modal title

Report

Block User

{{ feedback_modal_data.title }}

Quick Questions

Post your Contribution

Sign In