JAMB - Economics (2016 - No. 33)
One of the characteristics of private enterprises is ______?
Provision of welfare to the citizens
That tax payers bear all the risks
Public ownership of shares
Individual funding of business activities
Explication
characteristics of the private enterprise system:
- Private ownership of property.
- Entrepreneurship.
- Consumer independence.
- Market forces (competition, supply and demand, profit motive)