The allocation of goods and services in a free market eco...
The allocation of goods and services in a free market economy is performed by
The price system
The banking system
The central planning body
Government budgets
Correct answer is A
In a free market economy, the price mechanism regulates production and labor. Companies sell goods and services at the highest price consumers are willing to pay while workers earn the highest wages companies are willing to pay for their services.
A major function of the price mechanism is that it determines the ...
The interaction of supply and demands for labour determines ...
The value of money is effected by the ...
In the event of a limited liability company going into liquidation each ...
Cooperative societies are formed mainly to ...
Which financial institution is charged with the formulation of monetary polices in Nigeria? ...
IBRD as an international monetary institution is concerned with the ...