Multiple choice

What is the term used for the economic system in which the means of production and distribution are privately owned and are operated for profit?

  1. Socialism

  2. Racism

  3. Capitalism

  4. Nomadism
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Capitalism is defined by private ownership of means of production (factories, land, businesses) and operation for profit. Socialism involves public/state ownership. Racism is prejudice, not an economic system. Nomadism is a lifestyle, not an economic structure.

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