It is because so much depends on the economy of a country that it deserves to be studied and restudied. Infact for the proper understanding and evaluation of an economy. It is Important and evaluation of an economy is structured.

            Economic structure is defined by Ojo (2002) as the analytical framework around which a country economy takes its shape or form. For example, in a human body, we have the head, eye, nose, leg, hand and head each parts having its function and defined relationships with other parts and the body as a whole, similarly, in an economy, we have the main sectors such as agriculture, manufacturing, distribution, transport and communication each sector has to functions are relationship with other sectors. The whole economy and the sectors taken together from the structure of an economy[1].
            It is in this light that Anyanwu, Oyefusi et al (1997) sees the structure of an economy as involving those underlying characteristics of an economy which constitutes the economy patterns, states, and components/sectors. Which affects or determine its behaviour and performance. To CBN (2002). The structure of an economy may be viewed as the basic organs and process of reaching decisions as to how production and distribution of an economy may be undertaken Todaro (1982) defines the structure of an economy as the organizational, Institutional, and social framework of any economic system including the nature of resources ownership and control while Ukwu (2004) looks at structure of an economy as understanding who are the stakeholders? Who are the owners of economic resources? Who are the controller and decision makers? Who does what in the economy? What are the Institutions through which the stakeholders act and are acted upon.

Economic Structure/System
            Economic system refers to the Institutional Framework within which economic activities are carried on. Every human society is faced with the same fundamental economic problem of scarcity, which is reduced to the fundamental questions of what, how and for whom to produce? Different countries resolve these question differently scarcity requires that available resources be utilized efficiently. This cannot be attained without determining the best Institutional framework within which the above questions can be resolved No two institutional framework are exactly the same. This means that there are many types of economic systems as they are nations in the world[2].  However economic system can be classified broadly into two namely traditional and Modern economic system.

The Traditional Economy
An economy is defined in terms of the total and composition of its economic activities. An economy is referred as being traditional when its economic activities is barely sufficient for the subsistence of the community hence a traditional economy is most times referred to as subsisitence economy. In a traditional economy, tradition is the primary force that governs economic activities. In such economies long established norms, customs, culture and tradition resolves the question of what, how and for whom to produce 

Features of a Traditional Economy
1.         Each family unit produced almost everything it need
2.         Existence of co-operative exchange of goods and services (barter economy)
3.         Little or no trade with the outside world, hence people needs were simple/Ltd variety of article.
4.         Mass production are not an important feature of the traditional economy.

The Modern Economy
The modern economy refers to economic activities characterized by modern method of organization with clear cut division and specialization of labour, use of money as a medium of exchange, and extensive use of capital which results in large scale production and efficiency.

Features of a modern economy
*          Division and specialization of labour
*          Extensive use of money
*          Extensive use of capital goods
*          Technical progress
*          Mass or large scale production
For a modern economy there are three major methods of decision-making and resources allocation. These are;

The market Economy
In the market economy, economic agents seeking their own self-interest interact voluntarily among themselves and resolve the problem of what, how and for whom to produce through the social mechanism of the market the production, distribution and consumption relations are governed by the institutional arrangements constituting the market for individual commodities, which are regulated by prices and profits determined by the impersonal forces of demand and supply referred to by Adam smith as the Invisible hand”. Agiobenebo (1999). The market economy is also referred to as the capitalist economy because it emphasizes private ownership and control of factors of production. Therefore, productive assets are in the hands of individuals whose major objectives are profit maximization.
The market economy is characterized by
*          A system of property Rights
*          Inheritance
*          The concept of consumer sovereignty
*          The invisible hand
*          Competition
*          Market and prices
*          The entrepreneur
*          Limited government Intervention
*          The profit motive.
The command Economy
The command economy which is also called the centrally planned or socialist economy places the ownership of all factor of production except labour on the state. The state owned and controlled factor of production on behalf of the citizen so that the decision about what, how and for when to produce are made by the government for the citizenry.

Features of command Economy
*          Public ownership of means of production
*          Limited role of consumers sovereignty
*          The visible hand
*          Government is the entrepreneur
*          Quotas and Rationing of coupons
*          Co-operation instead of competitions

The Mixed economy
A mixed economy is a mixture of the market/capitalist economy and the command/socialist economy. Under the mixed economy, Private ownership of factors of production exist side by side by public ownership participation and regulation of economic activities.

 Features of Mixed Economy
*          Existence of market and prices
*          An active private sector
*          Strong capitalist tradition
*          Economic Development and planning
*          Joint ownership of certain project.
For a modern economy there are three major methods of decision-making and resources allocation. These are:
The Market Economy
A mixed economy is a mixture of the market/capitalist economy and the command/socialist economy. Under  the mixed economy private ownership of factors of production exist side by public ownership participation and regulation of economic activities.

Features of mixed economy
*          Existence of Markets and prices
*          An active private sector
*          Strong capitalist tradition
*          Economic freedom ad control
*          Economic Development and planning
*          Joint ownership of certain project

Differentiation of economic systems     
An Economic system is a set of ownership, resources allocation output distribution, incentives and decision-making arrangements that a society was to solve the economy problem of what, how and for whom to produce.
Economic system can be differentiated on the basis of;
*          Ownership mechanism
*          Allocation mechanism
*          Incentive system and mechanisms
*          Level of decision-making
*          Type of decision-makings
*          Institutions
*          Ideology
The Economy of a nation forms the basis of its progress

Reasons for the study of structure of an Economy
*          Building a theory of economic systems and their fxus and development.
*          Recognizing problems and deficits in existing economic systems
*          Improve knowledge of the economic systems
*          Find answers to the question: How can economic system be improved.
*          Develop a models of good or optional economic systems. Be improved.
*          Develop a models of good or optional economic systems.
*          Show ways to improve and reform existing systems
*          Giver proof for the advantages of one system over another
*          Explain differences in the fxuing of alternative economic systems, which can be generalized as explanation of differences in the functioning of different institutional arrangements.

Economic System
            A mechanism of tackling the him problems of scarcity and choice. Because economic resources are Ltd relative to society’s demand for goods and services. Some means of allocating resources between alternative ends is required.
            In modern world, three basic a locative mechanism performs this function.
1.         Private enterprises Economy-resource are allocated through Markets.
2.         Centrally planned Economy- resources are allocated by the state
3.         Mixed Economy-resources are allocated both by the state/Economy
Private-enterprises Economy/free-market economy/capitalism
Under this economy system the means of production are privately held by individuals and firms. Economic decision making is highly decentralized with resources being allocated through a large No of goods and service markets. The market synchronizes the decisions of buyers and sellers and by establishing on Equilibrium price determines how much of goods and services will be produced and sold.
            Critics of Private enterprise Economy argues however that market-based economy may not fully respond to the Dd of buyers where supply is in the hands of powerful suppliers. It cannot not ensure the provision of Public goods for which no market exists. That it can leads to gross inequalities in Income distribution.

Centrally planned economy/command economy
Under this economic system economic decision-making is centralized in the hand of the state with collective ownership of the means of production (Except labour) it is the state which decides what goods and services are to be produced in accordance with it centralized national plan. Resources are allocated between producing units, and final output, between customers by the use of physical quotas. The believe is that collective ownership of FOP by the people for the people is preferable to a situation in which the ownership of the Fop is in the hands of the capitalist class who  are able to exploit their elite position to the detriment of the population at large. State control of FOP enables the economy as a while to be organized in accordance with sue centralization. Critics of State owner enterprises system  argues, flatiron practice, they tend to be captured and corrupted by powerful state officials and that their top level bureaucratic structure regulations a highly inefficient organization of production and insensitivity in what construction actual

Mixed Economy
Under this economic system some goods and services are supplied by private enterprises, and other typically basic infrastructure goods and services such as electricity, postal services, water supply are provided by the state. The mixed economy is characteristic feature of most present day developed and developing countries pure or totally private enterprises economics and centrally planned economics being rarely encountered. The precise mix of private enterprise and state activities to be found in particular countries doe vary substantially between these 2 extremes and is very much influenced by the political philosophy of the country concerned.
            The entire structure should be properly examined to see where things have gone wrong and prescribe necessary corrections

Nigeria is not a nation. It is a mere geographical expression. There are no Nigerians in the same sense as they are ‘English’ Welsh or French. The word Nigeria is merely a distinctive appellation to distinguish those who live within the boundaries of Nigeria from those who do not (Awolowo (1947) path  to freedom’ Faber and Faber.

·        Sixty years age there was no country called Nigeria. What is now Nigeria consisted of a number of large and small communities all f which were different in their outlook and benefits. The advent of the British and of western education has not materially communities have not knit themselves into composite unit. (Awolowo, during the debate on the motion for Nigeria independence).
·        There are various national or ethnical groups in the country. Ten such groups were recorded in the 1931 census as follow
·        Hausa*Yoruba*Igbo*Falani* Kanuri* Ibibio*Tiv*Edo*Nupe and *Ijaw.
·        According  to Nigeria handbook eleventh edition, there are also a great number of smaller tribes too numerous to enumerate separately whose combined total amounts to 4,683,944.
1.      It is a mistake according to Nsirimob (2001) to designate them ‘tribes’. Each of them is a nation by itself with many tribes and clans. There is as much difference between them as there is between German, and English and between Russians and Turks.
2.      In Nigeria, the language differs. The only means of communication between the ethnic groups is English language their cultural backgrounds and social outlooks differs greatly and their indigenous political institutions have little in commons.
·        The largest country of West Africa, the size of France, Britain and the Nether lands combined. Is by for the most populations country on the African continent with 50% greater population than Egypt”
Nigeria is geographical expression, we are brought together by our colonial masters without due regard to our desire or otherwise to live together. It would have been better if we had been allowed to come together on our own.

[1] Ojo (2002) a level economics textbooks for West Africa autonoje press. Ibadan
[2] Agiobenebo T.J (1999) Introductory microeconomics, theory and application. Markowitz centre for Research and Development  Portharcourt.
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