Question

The main motive of producers is to maximise profit in ___ economy.

• A. Socialist
• B. Capitalist
• C. Mixed
• D. None

Answer 1

The correct option is B Capitalist

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. It is that system, where means of production are owned by private individuals, profit is the main motive and there is no interference by the government in the economic activities.

Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.