Consider the following statements:
1) In a Capitalist economy there is private ownership of means of production
2) In a communist nation, the means of production are owned by the State
3) In a free-market economy there is minimum role of the Government Which of the above 3 statement is/are true?
A) Only 1 and 3
B) Only 2 and 3
C) Only 3
D) All are true
Correct Answer:
Verified
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