A system in which the factors of production are owned by private citizens
a. command economy
b. traditional economy
c. capitalism
d. free enterprise economy
Ans: c. capitalism
Economics
You might also like to view...
Explain what is meant by the term "monetizing the deficit."
What will be an ideal response?
Economics
If your bank receives a demand deposit of $20,000 and the banking system makes the maximum possible loans, which is $60,000 . then the potential money multiplier must be
a. 2 b. 2.5 c. 3 d. 3.5 e. 4
Economics