In a free enterprise economy, resource allocation is determined by :
(A) the pattern of consumers spending
(B) the wealth of the entrepreneurs
(C) decision of the Government
(D) the traditional employment of factors
Correct Answer : the pattern of consumers spending
In a free market economy, resources are allocated through the interaction of free and self-directed market forces. This means that what to produce is determined by consumers' capacity to spend.
....Read more
Useful Quotations for : UPSC, State PSC, IBPS, SSC, Railway, NDA, Police Exams
Like The Facebook Page
CurrentGK for
Current Affairs, Latest GK &
Employment News
Tags : General Awareness
