“Identify the economic system in which private individuals or corporations own capital goods, like factories, raw materials, and the means (tools) of production.”
Answer Options:
- Mercantile System
- Laissez Faire Economy
- Capitalism
- Bartering system
Identify the economic system in which private individuals or corporations own capital goods, like factories, raw materials, and the means (tools) of production.
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The economic system in which private individuals or corporations own capital goods, like factories, raw materials, and the means (tools) of production is Capitalism.