In what system do private owners control production?A.AnarchismB.CommunismC.SocialismD.Capitalism
Question
In what system do private owners control production?
A. Anarchism
B. Communism
C. Socialism
D. Capitalism
Solution
Answer
The system in which private owners control production is known as D. Capitalism.
In a capitalist economy, individuals or corporations own and control production resources and are free to operate for profit. This contrasts with other systems listed:
- A. Anarchism typically lacks structured government and control over production, focusing on self-managed systems.
- B. Communism advocates for collective ownership and the absence of private property.
- C. Socialism entails some degree of social ownership or control over production, though it can coexist with private enterprises in certain models.
In summary, capitalism is defined by private ownership and the pursuit of profit, making it the correct answer to the question.
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