Post-UTME Economics 2005 Objective — Question 1
Question 1 of 1 from the Post-UTME Screening (Post-UTME) Economics 2005 Objective paper, with the correct answer and a full explanation.
Advertisement
An economy where prices are determined by the market forces of demand and supply is
- A. deregulation economyCorrect
- B. command economy
- C. central planned economy
- D. regulated economy
Explanation
A market/deregulated economy is one where prices are set freely by demand and supply, without government control.
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.