The belief that ownership of the means of production belongs in the hands of individuals and private business is called ________.

Question

Quizplus · Accepted Answer

Capitalism is an economic system based on private ownership of the means of production and the creation of goods and services for profit in a free market economy. This system advocates for the control of production to be in the hands of individual businesses rather than the state, which aligns with the definition presented in the question.

The Belief That Ownership of the Means of Production Belongs