Question

In Nigeria, people can open their own businesses, choose their careers and job paths, and can purchase a wide array of consumer goods. However, the national government institutes tariffs on imported goods, has a significant share in the oil industry, and regulates much of the country's industry. Still, Nigeria has a well-developed financial and communications sectors, a national stock exchange, and an abundance of natural resources, Where does this description put Nigeria on a continuum between pure market and pure command? A) almost all Command Economy B) more Command than Market Economy C) more Market than Command Economy Eliminate D) almost all Market Economy

Answer 1

Nigeria would be a MIXED MARKET economy. The government has some control, but for the most part the people/ business owners have the control.