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Economics · Oct / Nov 2017 · Paper 13 · Question 5

2281Market economic system

What is a benefit of the market system?

  1. ACompetition ensures choice for consumers.
  2. BPrices equal supply costs.
  3. CUnemployment is kept to a minimum.
  4. DWage differentials are small.

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Correct answer: A. Competition ensures choice for consumers.

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