Cambridge IGCSE Economics practice
Try the question first, then check the answer and practise the same topic again.
At a glance
MCQ
Type
cambridge_mcq
Style
Topic
Market economic system
Exam-style question
What primarily determines prices in a market economic system?.
Attempt the question first, then reveal the model answer and explanation.
Common mistake
No common mistake is linked to this question yet.
Flashcard 1 of 6
Question 1 of 5
Choose an answer, get feedback, then move sideways through the set.
Description
A market economic system is characterized by the decisions of individuals and businesses regarding the production and consumption of goods and services, driven by supply and demand.
State What is a market economic system?
Aim for approximately 1 distinct marking point.