Economics 0455 · IGCSE · Market economic system

Market economic system — practice question

What characteristics does a market economy have?

  • Aprivate ownership of factors of production: no; public ownership of factors of production: no; government allocation of production: yes
  • Bprivate ownership of factors of production: no; public ownership of factors of production: yes; government allocation of production: yes
  • Cprivate ownership of factors of production: yes; public ownership of factors of production: no; government allocation of production: no
  • Dprivate ownership of factors of production: yes; public ownership of factors of production: yes; government allocation of production: yes

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