WAEC Economics 2024 Objective — Question 4

Question 4 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.

4. The pursuit of private profits is a feature of

A. command economies.
B. socialist economies.
C. capitalist economies.Correct
D. statutory corporations.

Explanation

Capitalist economies look for profit from both public and private means. After making publicly obtainable profit, operators explore any available private profit.

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