Capitalism is a system of economic organization based on?

A. a mixed economy that takes all interests into consideration
B. individual ownership of the means of production
C. very fair distribution of the means of production
D. trading among people who own and control their items of trade

Correct Answer:

Option B – individual ownership of the means of production

Explanation

Capitalism is a system of economic organization based on individual ownership of means of production.

It is an economic and political ideology which allows individual ownership and control of the means of production and to produce what they like. The guiding principle is profit maximization.