_____ is an economic system in which ownership of the means of production and distribution is maintained primarily by private individuals and corporations.

Question

Quizplus · Accepted Answer

Capitalism is the economic system in which the means of production and distribution are privately owned and operated for profit in a competitive market. It is based on the principles of individual freedom, private property rights, and free market economy. In this system, prices are determined by supply and demand, and businesses and individuals are motivated by profit incentives.

_____ Is an Economic System in Which Ownership of the Means