SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Private individuals or groups have the right to own property or businesses and make a profit with limited government influence?
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Mixed Economy
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Market Economy
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Command Economy
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Capitalism
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Explanation:
Detailed explanation-1: -The mixed economy definition is an economy where both the private market and the government control the factors of production.
Detailed explanation-2: -Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector, with labor paid only wages. Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.
Detailed explanation-3: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.
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