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Economics · Oct / Nov 2023 · Paper 12 · Question 4

2281Market economic system

What are features of a market economy?

  1. Aprivate ownership: no; public ownership: no; government allocation: yes
  2. Bprivate ownership: no; public ownership: yes; government allocation: yes
  3. Cprivate ownership: yes; public ownership: no; government allocation: no
  4. Dprivate ownership: yes; public ownership: yes; government allocation: yes

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Correct answer: C. private ownership: yes; public ownership: no; government allocation: no

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