passwella.
Menu

UI Post-UTME Economics 2021 (Model questions) Question 18

Question 18

Economic Systems

Private property rights and decentralized decision making are primary characteristics of which type of economy?

  1. A.pure democratic economy
  2. B.pure command economy
  3. C.pure market economy
  4. D.pure mixed Economy
Show the answer and explanation

Answer: C (pure market economy)

Explanation

A pure market economy rests on private property and decisions made by individuals.