JAMB - Economics (2023 - No. 54)
Suppose the public expenditure as a percentage of GDP of four countries is shown in the table below
| A | 40% |
| B | 50% |
| C | 33% |
| D | 36% |
Which type of economy exists in these countries?
Traditional
Planned
Pure market
Mixed
Explanation
The economy is mixed with the highest GDP. It constitutes private expenditure as a percentage of GDP.
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