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Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.

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Here you can find the meaning of Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following can be said to be the characteristic feature of a capitalist economy? There is private ownership of the means of production. Production takes place for selling the output in the market as well as saving it for personal requirements of the owner in future. Sale and purchase of labour services at a price is known as the wage rate. Select the correct answer using the code given Below:a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.