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Capitalism is a system of economic organization based on


Question

Capitalism is a system of economic organization based on

Options

A) a mixed economy that takes all ineterests into consideration

B) individual ownership of the means of production

C) very fair distribution of the means of production

D) trading among people who own and control their items of trade


The correct answer is B.

Explanation:

Capitalism is a system of economic organization based on individual ownership of means of production.
It is an economic and political ideology which allows individual ownership and control of the means of production and to produce what they like. The guiding principle is profit maximization.


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Dicussion (1)

  • Capitalism is a system of economic organization based on individual ownership of means of production.
    It is an economic and political ideology which allows individual ownership and control of the means of production and to produce what they like. The guiding principle is profit maximization.

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