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GCE Economics 1990 Question 34

Question 34

Economic Systems

The Nigerian economy can best be described as a

  1. A.socialist economy
  2. B.capitalist economy
  3. C.mixed economy
  4. D.controlled economy
  5. E.domestic economy.
Show the answer and explanation

Answer: C (mixed economy)

Explanation

In Nigeria both government and private individuals own and run businesses, so it is a mixed economy.