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Question
__________ is the society system based on the individuals right to own property and means of production.
__________ is the society system based on the individuals right to own property and means of production.
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Solution
The correct option is C Capitalism
Capitalism is the society system based on the individual’s right to own
property and means of production. Consumers and producers make their
choices based on the market forces of demand and supply in this economy. In this,
the prices are determined by the free interaction of the forces of demand and
supply. It is an automatic self-regulating mechanism which runs with the motive
of profit.
Capitalism is the society system based on the individual’s right to own property and means of production. Consumers and producers make their choices based on the market forces of demand and supply in this economy. In this, the prices are determined by the free interaction of the forces of demand and supply. It is an automatic self-regulating mechanism which runs with the motive of profit.
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