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Question

The ownership of the defines a particular economic system.

A
means of production
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B
means of technology
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C
means of education
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D
means of transport
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Solution

The correct option is A means of production
Inputs like land, labour, and capital are termed as means of production. These can be owned either by the government, private sectors, or by both of them. Ownership of such means of production defines the type of economic system of a country.

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