Deprecated: Return type of AdvancedAds\Abstracts\Data::offsetGet($offset) should either be compatible with ArrayAccess::offsetGet(mixed $offset): mixed, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice in /home/erudites/web/erudites.ng/public_html/wp-content/plugins/advanced-ads/includes/abstracts/abstract-data.php on line 431
In Which Of The Following Economic Systems Do We Have The Means Of Production And Exchange Controlled By Private Individuals? - Erudites Academy

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

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

Sunday

Next The situation whereby the government of a country spends more than its budgets for a given financial year is known as? »

Previous « Disposable income is total income ______?

Published by

Sunday

Tags: economics

4 years ago