JAMB - Economics (2022 - No. 7)
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
Spiegazione
One of the disadvantage of capitalism is that wealth and control of means of production is concentrated in the hands of every few individuals. The rich families alwalys control the wealth of the society.