ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Factors of production are owned by individuals rather than by the government
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socialism
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capitalism
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communism
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anarchy
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Explanation:
Detailed explanation-1: -In capitalism, the various factors of production are under the ownership of private owners. By utilising these factors efficiently, these owners are able to extract their income. This generated wealth allows them the opportunity to successfully manage their organizations.
There is 1 question to complete.