“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
Question & Answer
Identify the economic system in which private individuals or corporations own capital goods, like factories, raw materials, and the means (tools) of production.
1 Answer
Verified archiveThe economic system in which private individuals or corporations own capital goods, like factories, raw materials, and the means (tools) of production is Capitalism.