Even though there are no answer choices, here is some information that can help!
- Capitalism is an economic system based on the following principles: 1) Little government interference in the economy- Capitalists belief that competition among businesses will help to keep prices low and will prevent them from acting illegally.
2) Individual freedom- In a capitalist system, individuals can spend their money on whatever they like.
3) Supply and demand- The amount of resources created by businesses is driven by the consumer. If there are products that people buy an extraordinary amount of, businesses will continue to produce it at a high rate. The opposite is true as well.
According to the graph, we can say that <span>Nigeria was generating greater revenue from oil in 1990 compared to previous years. </span><span>If we look on the table, we can see how the oil industry has covered more of the economy, so if it went down, Nigeria would get in serious economical problems.</span>
