The form of economic organization in which productive resources are privately owned by individuals, and those individuals independently decide what to produce is called
A) communism.
B) capitalism.
C) socialism.
D) utilitarianism.

Question

Quizplus · Accepted Answer

Capitalism is characterized by private ownership of resources and individual decision-making regarding production, distinguishing it from other economic systems like communism or socialism, where resources are often owned collectively or by the state.

The Form of Economic Organization in Which Productive Resources Are