An economy system that uses what is regarded as the Market mechanism is called_______
ECONOMICS
JAMB 2019
An economy system that uses what is regarded as the Market mechanism is called_______
- A. Mixed economy
- B. Socialism
- C. Command economy
- D. Capitalism
Correct Answer: D. Capitalism
Explanation
The market mechanism is solved through the Forces of demand and supply in the capitalist economy which is also known as free enterprises or free market economy.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *