Features of a Market Economy Steps:

• Define a market economy as one where resources are allocated by supply and demand.
• Identify private ownership of factors (land, labor, capital) as essential for individual decision-making.
• Note absence of dominant public ownership to allow free enterprise.
• Confirm no central government allocation, relying instead on prices and competition.

Why B is correct:

• It aligns with the core definition: private ownership enables market forces, excluding public ownership and government control for efficient resource distribution.

Why the others are wrong:

• A describes a command economy with public ownership and government allocation.
• C suggests a mixed economy with both private/public ownership and government intervention, not pure market.
• D repeats C's mixed features, failing to exclude public and government roles.

Final answer: B