BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -For example, private enterprises and individuals own most of the factors of production in capitalism. However, collective good is the predominating principle in socialism. As such, factors of production, such as land and capital, are owned and regulated by the community as a whole under socialism.

Detailed explanation-2: -In a market economy, almost everything is owned by individuals and private businesses-not by the government. Natural and capital resources like equipment and buildings are not government-owned. The goods and services produced in the economy are privately owned.

Detailed explanation-3: -Capitalism. In capitalism, the factors of production are owned by individuals or businesses. The goal is to make a profit by producing goods or services for sale. The government plays a limited role in the economy.

Detailed explanation-4: -In a market economy, private individuals, companies, and corporations own most of the resources. Individuals make decisions that contribute to supply and demand, which set prices and direct the production and use of goods and services.