JAMB Economics 2009 Objective — Question 2

Question 2 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2009 Objective paper, with the correct answer and a full explanation.

A typical feature of a market economy is that

A. all producers make profit
B. full employment exists
C. consumer sovereignty existsCorrect
D. there is equality of economic agents

Explanation

Consumer sovereignty is the freedom of the consumer to buy what he likes without any interference. It is a major feature of market economy.

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