In which one of the following types of economy are the factors of production owned individually?
(a) Capitalist
(b) Mixed
(c) Socialist
(d) None
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Answer:
a) Capitalist
Explanation:
Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
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Answer:
IT'S CAPITALIST
HOPE IT IS CLEAR!!
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