A basic tenet of capitalism is that

Question

Quizplus · Accepted Answer

Private ownership of the major means of production is a key component of capitalism, as it allows individuals and businesses to accumulate wealth through their ownership of assets and the production of goods and services. This distinguishes capitalism from other economic systems, such as socialism or communism, which favor collective ownership and control of the means of production. A and B are incorrect as they do not fully encompass the central idea of capitalism, and D is incorrect as capital remains a critical component of capitalist systems.

A Basic Tenet of Capitalism Is That