The correct combination is:Option 2: Capitalism – Private ownership
In a capitalist economy, means of production are owned by private individuals. Demand for bikes will be studied under microeconomics. General theory of employment is a book by Keynes published in 1936.
Other Options are incorrect. Here's why:
- Demand for bikes: This option is incorrect because the demand for bikes is typically considered a microeconomic variable rather than a macroeconomic one. Microeconomics focuses on the behavior of individual consumers and firms, including their choices and interactions in specific markets, such as the market for bikes. Macroeconomics, on the other hand, deals with aggregate economic variables, such as overall output, employment, inflation, and national income.
- General theory of employment - 1919: This is incorrect. This is a reference to John Maynard Keynes's influential book, "The General Theory of Employment, Interest and Money," published in 1936, not 1919.
- Capitalism - Public ownership: This option is incorrect because capitalism is characterized by private ownership of the means of production, distribution, and exchange, not public ownership. In capitalism, individuals and private entities, rather than the government or state, own and control resources such as land, capital, and businesses. Public ownership, where resources are owned and controlled by the government or society as a whole, is more characteristic of socialist or communist economic systems
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