Search SchoolNGR

Sunday, 05 April 2026
Register . Login

Why are many West African countries trying to adopt a free market system?

Why are many West African countries trying to adopt a free market system?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
    Correct Answer: Option n
    Explanation:
    Many West African countries are trying to adopt a free market system in order to:
    (i) stimulate free and efficient utilization of resources by private individuals
    (ii) pro-mote efficient production methods
    (iii) give consumers and producers the freedom of choice
    (iv) enable producers to maximize profit, i.e, to work harder
    (v) pro-mote rapid economic growth and development through investment
    (vi) facilitate rising standard of living.
    (vii) enable consumers to maximize their satisfaction.

    Share question on: