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Question
Who determines what will be produced in a capitalist economy which is reflected by their spending pattern?
Who determines what will be produced in a capitalist economy which is reflected by their spending pattern?
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Solution
The correct option is B Consumers
Capitalist economy has private ownership where utilization of
resources takes place for private gains. Therefore in this kind of economy only those goods are produced which are in high demand in the market which is directly governed by the consumers.
Capitalist economy has private ownership where utilization of resources takes place for private gains. Therefore in this kind of economy only those goods are produced which are in high demand in the market which is directly governed by the consumers.
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