Question on: JAMB Economics - 1995
The active intervention of the central authorities in the management of a country's economy rest upon the?
A
failure of the market force to produce satisfactory result
B
superiority of the centrally planned economy over the private enterprise economy
C
result-oriented nature of the private enterprise economy
D
cost-minimization strategy of a mixed economy
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Correct Option: A
The active intervention of central authorities in a country's economy is usually a response to perceived shortcomings or failures of the market forces. This intervention aims to correct market failures, stabilize the economy, or achieve specific social and economic goals.
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