Question

Q2 in which of the following type of economy are resources owned privately and the main objective behind
economic activities is pro it-making?
(a) Capitalist (b) Socialist (c) Mixed
(d) Global​

Answer 1

Answer:

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Explanation:

Capitalist

Answer 2

Answer:

The correct answer is Option A: Capitalist.

Explanation:

Capitalism:

• Capitalism is frequently viewed as an economic system in which private actors own and control property according to their interests, and demand and supply freely determine market pricing in a way that can best serve society.
• The desire to turn a profit is capitalism's fundamental characteristic.

• Other than regulating monopolistic business practices, the government does not directly intervene in the economy.
• The current global economy is predominately a capitalist one.
• The capitalist economies of the USA, UK, Germany, Japan, and Singapore are all well-known examples.
• The fundamental components of capitalism—private property, freedom of choice, the desire for financial gain, and competition—all permit the free and effective operation of the pricing mechanism.