JAMB Economics 2012 Objective — Question 1
Question 1 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.
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Which Question Paper Type of Economics as indicated above is given to you?
- A. Type Green
- B. Type PurpleCorrect
- C. Type Red
- D. Type Yellow
Explanation
Commerce sovereignty is the assumption that it is the consumer's taste that determines what they buy and this in turn determines what the producers should produce. (This is not the case in the socialist economy, it is the government that produces standardized products.)
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