NSSCO Business Studies (6144) Practice Questions - Namibia Senior Secondary Certificate Ordinary Level Business Studies (Syllabus 6144) Exam

In a market economy, how are most decisions about what to produce mainly determined?

By the interaction of consumer demand and producer supply through prices By central government planners setting all output targets By tradition alone with no prices By random allocation of goods

Correct Answer:

By the interaction of consumer demand and producer supply through prices

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