WAEC - Economics (2022 - No. 47)
A major disadvantage of a capitalist economy is that it
leads to low production of goods and services
requires large number of officials to operate
considers individual consumers' satisfaction
worsens income inequality among the citizens
Forklaring
One of the disadvantages of capitalism is that wealth and control of means of production are concentrated in the hands of every few individuals. Rich families always control the wealth of society.