Economics Multiple Choice Question – 13 April 2023

In a market economy, what is the basis for determining the allocation of factors of production.

Select ONE answer:

1. the market share of companies
2. the needs of the country
3. the pattern of consumers’ spending
4. the wealth of entrepreneurs

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

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