In which of the following economic systems do we have the means of production and exchange controlled by private individuals?

By: |Published on: Oct 21|Categories: Economics JAMB| 0 comments

A. socialist system
B. mixed system
C. capitalist system
D. traditional system

Correct Answer:

Option C – capitalist system

Explanation

Capitalist system is where the private individuals controlled the means of production and exchange

Users Also Read These:

SEE ALSO  When the demand for a good increases owing to an increase in income, it means that?

Copyright warnings! Do not copy.