USA HISTORY

MAKING OF A NEW NATION 1776 1800

THE BILL OF RIGHTS THE CONSTITUTIONS FIRST 10 AMENDMENTS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
In what type of economy is there private ownership, competition, entrepreneurship, supply and demand, and little government interference?
A
Capitalism
B
Mercantilism
C
Socialism
D
Free Enterprise
Explanation: 

Detailed explanation-1: -Pure capitalism refers to an economic system that is private and free. In a pure capitalist system, private businesses compete in the market without any interference from the government.

Detailed explanation-2: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

Detailed explanation-3: -What Is a Simple Definition of a Free Market Economy? A free market economy is one without government intervention or regulation. In a purely free market, buyers and sellers arrive at prices based only on supply and demand.

Detailed explanation-4: -A market economy is a type of economic system where supply and demand regulate the economy, rather than government intervention.

Detailed explanation-5: -Explanation: market system is the correct answer.

There is 1 question to complete.