In which economic system is the means of production and distribution privately owned?
A) Command System
B) Statism
C) Mixed Economy
D) Market Economy
E) Centrally Planned Economy

Question

Quizplus · Accepted Answer

In a market economy, the means of production and distribution are owned by private individuals or companies rather than by the state. This system relies on the free market to determine what goods and services are produced, how they are produced, and for whom they are produced.

In Which Economic System Is the Means of Production and Distribution