JAMB Economics 2005 Question 33

Question 33

Economic Systems

Economic freedom is a basic feature of

  1. A.a market economy
  2. B.an industrialized economy
  3. C.a planned economy
  4. D.a developed economy
Show the answer and explanation

Answer: A (a market economy)

Explanation

In a market (capitalist) economy individuals are free to own property, choose jobs and run businesses.