Which statement best describes a capitalist economy?
A) The production of goods and services is determined primarily by markets,but the allocation of goods and services is determined primarily by government.
B) The production of goods and services is determined primarily by government,but the allocation of goods and services is determined primarily by markets.
C) The production and allocation of goods and services is determined primarily through markets.
D) The production and allocation of goods and services is determined primarily through government.

Question

Quizplus · Accepted Answer

In a capitalist economy, the production and allocation of goods and services are determined primarily through markets, without significant government intervention or control. The role of the government is generally limited to enforcing laws and regulations that protect property rights and ensure competition. Therefore, choice C is the best description of a capitalist economy.

Which Statement Best Describes a Capitalist Economy