Types of Economic Systems (Capitalism) - SS1 Economics Past Questions and Answers (page 1)

1

In capitalism, who owns and operates the means of production?

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A

The government

B

Private individuals and businesses

C

Labor unions

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2

Means of production are privately owned and operated by ____________.

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A

Profit

B

Social welfare

C

Government regulation

Answer ▼

3

Which of the following is a characteristic of capitalism?

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A

Government control of the economy

B

Centralized planning of production

C

Free market competition

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4

What is the main goal of capitalism?

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Answer ▼

Types of Economic Systems (Capitalism) - SS1 Economics Past Questions and Answers - page 1