WAEC Economics 2025 Objective — Question 4
Question 4 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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One advantage of a free market economy is that it
- A. guarantees full employment of labour.
- B. gives incentives for innovation.Correct
- C. guarantees income equality.
- D. allocates public goods.
Explanation
Competition and the profit motive in a free market economy encourage producers to innovate.
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