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Capitalist Economy: Features and Drawbacks

Who owns and ...

Question

Who owns and controls the means of production in a capitalist economy?

A

Government

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B

Both public and private sector

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C

Private sector

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D

Public sector along with foreign investor

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Solution

The correct option is C Private sector

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Similar questions

Q. Who owns and controls the means of production in a socialist economy?

Q. In the capitalist economy Factors of Production is owned by?

Q. Under the capitalistic economy the factors of production are owned by ________________.

Q. A system of economy in which all means of production are owned and controlled by private individuals for the purpose of profit is called ___________.

Q. Assertion (A): In the USA, the private sector owns and manages all the means of production, but the government also frames rules and policies to govern the private players.

Reasoning (R): All the countries lie somewhere between a purely capitalist and purely socialist economy.

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Capitalist Economy: Features and Drawbacks

Standard IX Economics

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