Choose the right answer from the four alternatives given below. In which one of the following types of economy are the factors of production owned individually?

Question

Philoid · Accepted Answer

Option (A) is correct because Capitalist economy is the factors of production owned individually. It affords economic freedom, consumer choice, and economic growth.

Option (B) is not correct because Socialist economy is controlled by the state and planned by a central planning authority.

Option (C) is not correct because mixed economy is an economy system combining private and state enterprise.

Option (D) is not correct because capitalist is the correct answer.

Choose the right answer from the four alternatives given below.In which one of the following types of economy are the factors of production owned individually?

Choose the right answer from the four alternatives given below.
In which one of the following types of economy are the factors of production owned individually?