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WAEC Economics 2005 Question 46

Question 46

Economic Systems

In a capitalist system goods are produced for those who

  1. A.want them most but cannot pay for them
  2. B.can pay for them but do not want them
  3. C.want them and can also pay for them
  4. D.are dependent on the labour force
Show the answer and explanation

Answer: C (want them and can also pay for them)

Explanation

Capitalist producers supply those with effective demand: people who want the goods and can pay.