0
http://wiki.answers.com/Q/Why_is_Nigeria_economy_called_a_mixed_economy"
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoThe benefit of a mixed economy is that it creates security for the country. A country that is dependent only on oil, for example, would be in trouble if its oil reserves ran out.
Add your answer:
Earn +20 pts
What type of economy is emerging in Nigeria under the reform of the NEEDS program?
Mixed Market
What type of economy is emerging in Nigeria under the reforms of the NEEDS program?
Mixed Market
Is mixed economy under private control?
In a mixed economy some of the businesses are under private control and some of the businesses are run by the government. There is still a free economy if there is a mixed economy.
Is Belgium a mixed economy?
Belgium is a mixed economy which is considered to be under the socialist system of governance. A mixed economy is where there participation from private entrepreneurs and the government.
Is china a free market economy?
No. it should be under mixed market economy
Is mixed economy more reliable than planned economy?
yes mixed economy is more reliable in a mixed economy we get both the public as well as private players.on the other hand planned economy doesn't allow such freedom.mixed economy private companies are under restrictions of the government and there working is on check.
Most countries today operate under what economic system?
mixed economy
What type of econemy is emerging niegra under the reforms of the of the needs program?
hat type of economy is emerging in Nigeria under the reforms of the NEEDS program?
Does France have a mixed economy?
Yes, France does have a mixed economy. France's economy consists of agricultural and industrial, along with "skilled" and service sector jobs. For more information, one source is linked below under "Related links".
How does a free enterprise system differ from a mixed economy?
A free enterprise is the freedom of private businesses to operate competitively for profit with minimal government regulation. A mixed economy is a system that allows for the simultaneous operation of publicly and privately owned enterprises
What type of economy system does Hungary have?
Turkey enjoys a free market economy. There use to be many state owned companies, but many have been privatized under the Erdogan government.
With reference to the experience of Pakistan 'Discuss the merits and demerits of a mixed economy?
First: What is a 'mixed economy'?The mixed economy refers to such an economic system wherein two the sector exist and function for achieving national objectives. The two sectors are the public sector and private sector. Both these sector exist and function for achieving national objectives. Both these sectors make the economic system of the country. In fact the mixed economy is the happy combination of private enterprise with government enterprise on the one side there is freedom of enterprise, private ownership and profit earning. On the other side there is government guidance and control so as to stop evil economic, pressures. In order to remove the effects of the capitalistic economy, mixed economy has been introduced. It prevails in most of the countries of the world. Pakistan has also mixed economy, where government and public sector provide guidance to the private sector.MeritsThe mixed economy is helpful in increasing national production in the country. Both public and private sectors work hard to bring about more production. The problems created by free enterprise and too much public control are solved through mixed economy. It provides freedom of enterprise ownership and profit earning as well as social welfare and political freedom. And all the national recourses are utilized under mixed economy.DemeritsMixed economy is half way house. It is not helpful in achieving optimal use of national resources. The mixed economy suffers from the drawbacks of both the capitalismand the socialism. Mixed economy seldom achieved progress. It suffers from continues back wardness. Under mixed economy wastage of different types occurs in the economy.
