Advantages and disadvantages of deregulation in Nigeria. - SS2 Government Past Questions and Answers - page 1
What is a potential disadvantage of deregulation in Nigeria?
Increases competition among businesses
Compromises safety of workers, consumers, and the environment
Promotes innovation
Compromises safety of workers, consumers, and the environment
What is a potential advantage of deregulation in Nigeria?
Increases inequality
Reduces costs associated with compliance with government regulations
Threatens public interest
Reduces costs associated with compliance with government regulations
What is a potential disadvantage of deregulation in Nigeria?
Stimulates innovation
Creates market dominance
Encourages investment
What is a potential advantage of deregulation in Nigeria?
Threatens public interest
Increases efficiency
Compromises safety of workers, consumers, and the environment
What is a potential disadvantage of deregulation in Nigeria?
Promotes competition
Increases risk of fraud, exploitation, and abuse
Reduces costs associated with compliance with government regulations
How can deregulation potentially compromise safety in Nigeria?
Deregulation can compromise safety by allowing businesses to prioritize profits over safety measures, which can harm workers, consumers, and the environment.
How can deregulation potentially increase market dominance in Nigeria?
Deregulation can potentially create market dominance by allowing larger, established businesses to gain an advantage over smaller or newer businesses, leading to reduced competition.