Economics JAMB

One of the characteristics of private enterprises is ______?

A. Provision of welfare to the citizens
B. That tax payers bear all the risks
C. Public ownership of shares
D. Individual funding of business activities

Correct Answer:

Option D – Individual funding of business activities

Explanation

Characteristics of the private enterprise system:

  • Private ownership of property.
  • Entrepreneurship.
  • Consumer independence.
  • Market forces (competition, supply and demand, profit motive)
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