In contrast to socialism,capitalism is characterized by __________.
A) autocratic rule
B) free market competition
C) centralized government
D) state ownership of corporations

Question

Quizplus · Accepted Answer

Capitalism is characterized by a free market competition where businesses are privately owned and run and prices are determined by supply and demand. This is in contrast to socialism, where the means of production are owned and controlled by the state. Autocratic rule, centralized government and state ownership of corporations are not necessarily associated with capitalism.

In Contrast to Socialism,capitalism Is Characterized by __________