Question on: JAMB Economics - 2018
The privatization exercise in Nigeria is a move towards a____________
A
command economy
B
mixed economy
C
subsistence economy
D
market economy
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Correct Option: D
Privatization in Nigeria involves transferring ownership of government-owned businesses to private individuals or entities. This shift moves the economy towards a system where private individuals and firms make decisions about production, consumption, and investment, which is a key characteristic of a market economy.
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