A system of economy in which all the means of production are owned and controlled by the private individuals for the purpose of profit, is called:
A. Socialist Economy
B. Capitalist Economy
C. Mixed Economy
D. All of the above
Answer:B
A system of economy in which all the means of production are owned and controlled by the private individuals for the purpose of profit, is called:
A. Socialist Economy B. Capitalist Economy C. Mixed Economy D. All of the above