1. In the market economic system, emphasis is laid on the

SSSCE 2002

2. In a free market situation, firms produce

SSSCE 2005

3. Which of the following groups of sectors exist in an economy?

WASSCE 2009

4. An economic system in which the government owns the means of production and distribution is referred to as

SSSCE 2006

5. The economic system in which the individual directly produces what he wants is the;

SSSCE 2002

6. In a free market economy, how income is spent determines the

SSSCE 1998

7. The pursuit of profits and private ownership of property are common features of...

WASSCE 2008

8. An economic system exists to...

WASSCE 2008

9. Which of the following is an advantage of a capitalist economy?

WASSCE 2009

10. An institutional arrangement to solve economic problems is known as an

SSSCE 2003

11. In a free market economy

SSSCE 1995

12. The economic system in which the means of production is owned mainly by individuals is known as

SSSCE 1997

13. Which of the following is not an advantage of the capitalist system?

WASSCE 2011

14. Public ownership of resources and the use of the free market to organize and co-ordinate economic activity is called

SSSCE 2005

15. Which of the following economic system is in operation in most countries of West Africa?

WASSCE 2006

16. In a free market system, which of the following is important in determining what is produced?

SSSCE 1996

17. The following are features of a capitalist system except that

WASSCE 2009

18. In which of the following economic systems is the consumer the king?

WASSCE 2009

19. An economy in which most factors of production are owned by the state is a

WASSCE 2009