O-LevelEconomicsThe allocation of resources2281/12 · May/June 2018 · Q41 Mark

What is a major advantage of a market economic system over a mixed economic system?

AAll production of goods and services is determined by consumer demand.

BOwnership of resources is divided between private and public sectors.

CProducers include any external costs they create in the price of the good.

DThere will always be an even distribution of income and wealth.

✓ Correct answer

A: All production of goods and services is determined by consumer demand.

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, May/June 2018 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