Producers operating in a free market economy are more efficient as a result of

Economics

JAMB 2022

A. the existence of competition
B. the very few number of participants
C. the commitment of the shareholders
D. government regulation of their activities

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Correct Answer: Option A

Explanation

In a free market economy, there is efficiency as a result of competition among producers. It also known as capitalist economy in which the price of the goods are fixed by price mechanism.

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Producers operating in a free market economy are more efficient as a result of

Correct Answer: Option A

Explanation

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