JAMB 2020 Economics · Question 1

Collectivism refers to the management of state enterprises in a?

Options

  1. A.mixed economy
  2. B.co-operative organizations
  3. C.capitalist economic system
  4. D.socialist economy

Answer: D. socialist economy

Explanation written with AI and checked against the answer key

Step 1: Analyze the question The question asks which system is associated with collectivism, meaning the management of state enterprises.

Step 2: Explain the concept Collectivism is the idea that the means of production, distribution and exchange should be owned and controlled by the community or the state, not by private individuals. Its goal is to serve the collective good rather than individual profit.

Look at how each system handles ownership:

  • Capitalist economy: Private individuals own the means of production. This is the opposite of collectivism.
  • Mixed economy: Ownership is shared between the private sector and the government. Collectivism is only partial here, so it is not the best fit.
  • Co-operative organizations: These are owned by their members, not by the state, so they are not "state enterprises."
  • Socialist economy: The state owns and manages the major means of production and enterprises on behalf of the people. This matches collectivism exactly.

Step 3: Solution Collectivism → state ownership and management of enterprises → socialist economy.

Step 4: Answer D. socialist economy

Tip: Link the words to the systems.

  • Collectivism = Socialism (the state or community controls things)
  • Individualism = Capitalism (private people control things)

If a JAMB question mentions "state enterprises" or "collective ownership," think socialism first.

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