The privatization exercise in Nigeria is a move towards a
ECONOMICS
JAMB 2009
The privatization exercise in Nigeria is a move towards a
- A. mixed economy
- B. subsistence economy
- C. market economy
- D. command economy
Correct Answer: C. market economy
Explanation
Privatization is geared towards a market economy in which economic decisions and the pricing of goods and services are determined by the supply and demand of goods and services. In this market economy, private individuals are major players and are actively involved in the production process.
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