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What is the name of an economic system in which private citizens own the factors of production?
Wiki User
∙ 13y ago
I believe the answer is "a command economy"It is market economy
Wiki User
∙ 13y ago
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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
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.
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.
What economic goal can you suggest in private citizens?
to contribute to the growth and development of the country
In which economic system are the production and distribution of goods owned by private individuals or corporations?
market
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
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.
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.
What economic goal can you suggest in private citizens?
to contribute to the growth and development of the country
Who possesses the factors of production in South Africa?
Both the government and private owners makes economic decisions because the government has control over certain important industries, such as Eskom, while private owners control other important industries.
In which economic system are the production and distribution of goods owned by private individuals or corporations?
market
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
Do libertarians oppose government intervention in both economic affairs and in the private lives of citizens?
they opposed government intervention only in the economic sector
Who owns the factors of production in india?
Various private and foreign investors, shareholders, holders of private equity and government institutions.
Who owns and controls the factors of production in a mixed economy?
both the government and private sectors
What are the four factors of production in the private enterprise system?
Land, labor, capital, enterprise
Economic system in which businesses are owned by private citizens not by the government?
Capitalistic Economy... also known as Free-Enterprise
