Which system of government allows for and guarantees maximum competition?
GOVERNMENT
WAEC 2023
Which system of government allows for and guarantees maximum competition?
- A. Feudalism
- B. Capitalism
- C. Communism
- D. Social Democracy
Correct Answer: B. Capitalism
Explanation
Capitalism is an economic system where private entities own the factors of production. It allows for maximum competition as businesses compete for the same resources and customers in a free market to achieve profit maximization.
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