O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2023 · Q41 Mark

What are features of a market economy?

Aprivate ownership of factors of production no, public ownership of factors of production no, government allocation of production yes

Bprivate ownership of factors of production no, public ownership of factors of production yes, government allocation of production yes

Cprivate ownership of factors of production yes, public ownership of factors of production no, government allocation of production no

Dprivate ownership of factors of production yes, public ownership of factors of production yes, government allocation of production yes

✓ Correct answer

C: private ownership of factors of production yes, public ownership of factors of production no, government allocation of production no

Oracle Prep sorts past-paper questions by topic, so you can drill The allocation of resources and see which topics are most likely to come up next.

Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2023 Paper 1 Variant 2, question 4.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content