Economy, asked by shatikjayin3221, 8 months ago

Describe the various types of economics on the basis of ownership of the means of production

Answers

Answered by rk0562527

Explanation:

On the basis of ownership over the means of production, economies are classified into the following categories: Capitalist Economy: It refers to a type of economy wherein private owners own the means of production such as land and capital.

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