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JAMB Government 1988 Question 12

Question 12

Political Ideologies

Which of the following encourages capitalism?

  1. A.Public ownership of all forms of enterprise
  2. B.Even distribution of wealth
  3. C.Private ownership of the means of production
  4. D.Centrally planned economy
Show the answer and explanation

Answer: C (Private ownership of the means of production)

Explanation

Capitalism rests on private ownership of land, factories and businesses, run for profit in a free market.