NECO Commerce 2023 Objective — Question 40

Question 40 of 50 from the National Examinations Council (NECO) Commerce 2023 Objective paper, with the correct answer and a full explanation.

Income inequality in many countries can be worsened by privatization mainly because it can

A. reduce the wealth of the government
B. transfer wealth from the public sector to a small number of private individuals or organizationsCorrect
C. increase the supply of goods
D. reduce unemployment

Explanation

Privatization can exacerbate income inequality by transferring wealth from the public sector to private individuals or organisations, concentrating wealth among a smaller group.

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