Free enterprise economy - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 2009

A typical feature of a market economy is that

A. All producers make profit
B. Full employment exists
C. Consumer sovereignty exists
D. There is equality of economic agents

Question 22:

• JAMB 2021

In a free market economy. the rationing of scarce goods is done principally by ____________

A. Consumers
B. The government
C. The price mechanism
D. All of the above