which of the following economic system is in operation in Nigeria?

Assessment: WAEC SSCE - Economics - 1995 (Objective) Subject: Economics

Question 1 Report

which of the following economic system is in operation in Nigeria?
Answer Details
The economic system currently in operation in Nigeria is a mixed economy. This means that the economy combines elements of both capitalism and socialism, with both private and public sectors playing important roles in the economy. In Nigeria, the private sector is dominant in areas such as agriculture, manufacturing, and services, while the government plays a major role in the oil and gas industry, as well as in providing social services such as healthcare and education. The mixed economy model allows for some level of government intervention in the economy, while still allowing private businesses to operate and compete in the market.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning