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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.
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What is an economic system where people can start their own business?
Capitalism is the economic system that permits and even encourages people to start their own businesses.
An economic system where all businesses is controlled by people who share equally in the profits is called?
Capitalism
Economic system in which private businesses run most industries?
Capitalism is an economic system in which individuals and private businesses run most industries
What is an economic system in which the government owns most property and businesses and people have little freedom?
Well, the name for this type of system is centrally planned, and one country with this economic system is China.
What is the economic system suitable for Zimbabwe?
Free market economic system is completely suitable for immediate neigbour Zimbabwe because it will stimulate economic growth and encouarge people to establish businesses within country which results in job opportunities.
What is an economic system where people can start their own business?
Capitalism is the economic system that permits and even encourages people to start their own businesses.
An economic system in which the people own land factories?
Not a totally clear question. A system where the land, factories, etc belong to the whole community is Socialism.
An economic system where all businesses is controlled by people who share equally in the profits is called?
Capitalism
Economic system in which private businesses run most industries?
Capitalism is an economic system in which individuals and private businesses run most industries
What is an economic system in which the government owns most property and businesses and people have little freedom?
Well, the name for this type of system is centrally planned, and one country with this economic system is China.
What is the economic system suitable for Zimbabwe?
Free market economic system is completely suitable for immediate neigbour Zimbabwe because it will stimulate economic growth and encouarge people to establish businesses within country which results in job opportunities.
In what economic system does the government own most of the factories equipment and agricultural lands?
State capitalism. In Communism there is no government and no buying and selling.
Which economic system are businesses privately owned with the possibility of profit?
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In the system workers are most productive and Nations economies functions most effectively when people and businesses can pursue their economic interest privately?
Conservation
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.
which development would most reflect karl marx's belief in the economic system that he predicted would replace free markets?
That workers would share all profits generated from a factory
What is an economic system which allows individuals to own and operate private businesses?
Capitalism
