WAEC - Economics (2012 - No. 12)
The allocation of goods and services in a free market economy is performed by
the price system
the banking system
the central planning body
government budgets
הֶסבֵּר
In a free market economy, the price mechanism regulates production and labor. Companies sell goods and services at the highest price consumers are willing to pay while workers earn the highest wages companies are willing to pay for their services.