ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Traditional
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Command
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Market
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Mixed Market
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Detailed explanation-1: -Kenya has a market-based economy and is generally considered the economic, commercial, financial and logistics hub of East Africa.
Detailed explanation-2: -Kenya has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Kenya is a member of the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC).
Detailed explanation-3: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.
Detailed explanation-4: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.