Practicing Success
Practicing Success
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What do you understand by the term "Capitalism"? |
Where the state's production activity is controlled by the private sector. Where government decides the supply of goods in market. Where the role of private and public sector is equal in production related activities. None of the above |
Where the state's production activity is controlled by the private sector. |
Capitalism is that economic system, where the production activity is controlled by the private sector and there is no intervention by the government. The demand and supply is totally based on the market forces. Here, the purchasing power decides the goods which are to be produced and not the need of an individual. They work only for profit motive and not for the welfare of the society. |
