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What is the US economy based on which is the private ownership of farms and businesses?
Wiki User
∙ 12y ago
Capitalism
Wiki User
∙ 12y ago
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What economic system is based on private ownership and competition motivated by profit?
market economy
What sector of the economy do private individuals and private business make up?
Small businesses employ about 50 percent of all private sector workers. Home-based businesses account for 53 percent of all small businesses. The latest figures show that small businesses create 75 percent of the net new jobs in our economy.
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
What economic system is based on private ownership?
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
What economic system is based on private ownership and competition motivated by profit?
market economy
What sector of the economy do private individuals and private business make up?
Small businesses employ about 50 percent of all private sector workers. Home-based businesses account for 53 percent of all small businesses. The latest figures show that small businesses create 75 percent of the net new jobs in our economy.
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
What are the four factors underlying the free enterprise system?
There are four factors underlying a free enterprise system. They include private ownership of property, competition between businesses, individual initiative, and profit.
What economic system is based on private ownership?
capitalism
What was the American economy like at the time of the writing of the Declaration of Independence?
The economy was largely agricultural, very little manufacturing, it was based on private ownership of property and it was heavily dependent on overseas trade. Michael Montagne
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
What does capitalism economy mean?
A capitalist economy would be an economy that is based solely on private ownership of capital and of the means of production. This is just a vague statement because there are several different kinds of capitalist economies. E.g. Free Market, Social Market and several others.
What is a modified private enterprise economy?
A modified private enterprise economy is based on capitalism but has some government interference to prevent monopolies. Example is the economy of the U.S
The economic system that is based on private ownership and competition motivated by profit is called?
Capitalism
How does economy relate to free enterprise?
In an economy based on free enterprise people are free to start their own businesses.
What kind of the system is the united state?
The US is capitalist: wages system, production for sale, class ownership of the means of production.
