Majority of the candidates who attempted this question performed fairly well. They were able to provide answers for the (a) and (b) parts of the question. However, most of the candidates could not provide the following answers for the (c) part of the question.
(c) - Under the market system, the price mechanism determines how economic problems are solved.
Under the socialist system, a planning authority takes decisions on how economic problems are solved.
Under the mixed econorn ic system, the government and price mechanism determine how economic problems are solved.