GCE Economics 2025 Objective — Question 5
Question 5 of 60 from the General Certificate of Education (GCE) Economics 2025 Objective paper, with the correct answer and a full explanation.
Advertisement
In a capitalist society, the type of ___ is used to allocate resources.
- A. Government
- B. price systemCorrect
- C. producers
Explanation
In a capitalist/market economy, the price mechanism determines what goods to produce based on consumer demand and willingness to pay.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.