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An economic system in which the government owns major industries but allows private ownership of other businesses is called?
Socialism. Complete ownership by the state is Communism.
What is an economic system which allows individuals to own and operate private businesses?
Capitalism
What type of economy is an economic system in which private businesses can operate freely with minimal state control?
mj
Economic system in which businesses are owned by private citizens not by the government?
Capitalistic Economy... also known as Free-Enterprise
What are the key features of a capitalist economic system?
A capitalist economic system is characterized by private ownership of businesses and resources, free market competition, profit motive, and minimal government intervention in the economy. This system allows individuals and businesses to make their own economic decisions and encourages innovation and entrepreneurship.
An economic system in which the government owns major industries but allows private ownership of other businesses is called?
Socialism. Complete ownership by the state is Communism.
What is an economic system which allows individuals to own and operate private businesses?
Capitalism
What type of economy is an economic system in which private businesses can operate freely with minimal state control?
mj
Economic system in which businesses are owned by private citizens not by the government?
Capitalistic Economy... also known as Free-Enterprise
What are the key features of a capitalist economic system?
A capitalist economic system is characterized by private ownership of businesses and resources, free market competition, profit motive, and minimal government intervention in the economy. This system allows individuals and businesses to make their own economic decisions and encourages innovation and entrepreneurship.
What is a free system?
A free enterprise system allows individuals to make their own economic decisions, without interference from the government. Free enterprise is a private profit-potential businesses system.
What are the key features of an economic system characterized by private or corporate ownership of capital goods?
An economic system with private or corporate ownership of capital goods is known as capitalism. Key features include private ownership of businesses, competition in the market, profit motive driving decision-making, and limited government intervention in the economy.
What is a free interprise system?
A free enterprise system allows individuals to make their own economic decisions, without interference from the government. Free enterprise is a private profit-potential businesses system.
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
Which economic system do the people own land factories and businesses?
The economic system where people own land, factories, and businesses is known as capitalism. In capitalism, private ownership is a fundamental principle, allowing individuals and companies to operate and compete in the market. This system encourages entrepreneurship and innovation, as people can invest in and profit from their ventures. Additionally, it typically involves minimal government intervention in economic activities.
Ask us anythingIn what system do private owners control production?
Private owners control production in a capitalist economic system. In capitalism, individuals or businesses own and operate the means of production, allowing them to make decisions about what to produce, how to produce it, and for whom. This system is characterized by free markets, competition, and limited government intervention in economic activities.
Private ownership of businesses is a characteristic of what?
Free enterprise system
