HISTORY
WORLD WAR I AND THE RUSSIAN REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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TRUE
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FALSE
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Either A or B
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None of the above
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Detailed explanation-1: -capitalism requires private ownership of the major means of production. Correct Answer: capitalism requires private ownership of the major means of production.
Detailed explanation-2: -: an economic system in which the elements of an economy (as labor, capital, and natural resources) are subject to government control and regulation designed to achieve the objectives of a comprehensive plan of economic development compare free economy, free enterprise.
Detailed explanation-3: -Which statement best describes a capitalist economy? The production and allocation of goods and services is determined primarily through markets.
Detailed explanation-4: -The government of a centrally planned economy decides where and when production and investment will be directed.