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In which economic system all the means of production are owned and controlled by private individuals for profit?
  • a)
    Socialism
  • b)
    Mixed economy
  • c)
    Capitalist Economy
  • d)
    Communism
Correct answer is 'B'. Can you explain this answer?
Most Upvoted Answer
In which economic system all the means of production are owned and con...
Correct answer is capitalist economy
because capitalistic economies main motive is profit
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In which economic system all the means of production are owned and controlled by private individuals for profit?a)Socialismb)Mixed economyc)Capitalist Economyd)CommunismCorrect answer is 'B'. Can you explain this answer?
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