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What system puts the means of production in the hand of private owners?
Wiki User
∙ 13y ago
Capitalism is the stystem whereby private owners own the means of production; contrasting with communism where it is owned by the state or 'the people.'
However it is not as clear cut as that, as in several mixed economies different means of production are owned by the private or public sector; do acknowledge that there is no 100% communist or capitalist system that has ever worked or been suggested as a viable possibility.
Wiki User
∙ 13y ago
Wiki User
∙ 14y agocapitalism
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What system puts the means of production in the hands of private owners?
Capitalism
What system puts the means of productions in the hands of private owners?
Capitalism
Capitalism is an economic system based on?
Ownership of the means of production by a small minority; wages system; production for sale and profit; exploitation
capitalism?
an economic system based on open competition in a free market, in which individuals and companies own the means of production and operate for profit
What is capitalism in sociology?
An economic system based on the private ownership of the means of production and distribution in which the goal is to produce profi
What did Karl marx call owners of the mean of production?
The 'bourgeoisie' are the owners and controllers of the means of production according to Karl Marx.
Under which economic system would factors of production most likely be owned by the government?
Communism is one chief example where production is a ward of the state. In this system the means to production and national resources are communal rather than private property.
System in which private citizens control property and economic activity?
Capitalism is just one of many systems in which a tiny minority of private persons control the means of production.
Capitalism is a competitive economic system in which private citizens own the factors of production?
No, as it’s possible for the state to own some or most of the means of production. This would be state capitalism
What is the economic system in which the means production and distribution are privately owned and operated for profit under competitive conditions?
The definition of capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits. An example of capitalism is the prison system in the United States being operated by private companies.
What is the economic system in which the means of production and distribution are privately owned operated for profit under competitive conditions?
The definition of capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits. An example of capitalism is the prison system in the United States being operated by private companies.
What is the economic system in which means of production and distribution are privately owned and operated for profit under competitive conditions?
The definition of capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits. An example of capitalism is the prison system in the United States being operated by private companies.
