Based on the description provided, Nigeria could BEST be categorized as a Mixed economy. This classification fits due to the combination of free market practices, such as individuals being able to open businesses and choose careers, alongside significant government involvement, including tariffs on imports and regulation of industries.
Question 13
A)
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.
Based on this description, Nigeria could BEST be categorized as a ___ economy. Responses
(1 point)
Responses
Command
Command
Market
Market
Mixed
Mixed
Traditional
1 answer