A-LevelEconomicsBasic economic ideas and resource allocation9708/32 · May/June 2019 · Q11 Mark

Which statement is correct? A In a command economy firms compete and profit maximise allocating resources efficiently. B In a command economy resources are privately owned. C In a market economy prices are used to signal the value of individual resources. D In a market economy resources are allocated by central planners.

1Which statement is correct? A In a command economy firms compete and profit maximise allocating resources efficiently. B In a command economy resources are privately owned. C In a market economy prices are used to signal the value of individual resources. D In a market economy resources are allocated by central planners.[1]

Mark scheme

Marking points from the official mark scheme (May/June 2019). The mark or mark type is shown in brackets.

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Topic: Basic economic ideas and resource allocation, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2019 Paper 3 Variant 2, question 1.

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