O-LevelEconomicsThe allocation of resources2281/11 · Oct/Nov 2011 · Q51 Mark

How are economic decisions determined in a pure market system?

Aby a mixture of market forces and government regulation

Bby central planners of production and consumption

Cby government regulation of the price mechanism

Dby the forces of demand and supply

✓ Correct answer

D: by the forces of demand and supply

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2011 Paper 1 Variant 1, question 5.

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