🎴 Flashcard Mode
Analyzing the Distribution of Income and Wealth in Different Economic Systems
Card1 / 15
Mastered0
Review0
QuestionClick to flip
Which economic system is characterized by the private ownership of the means of production and the distribution of income and wealth based on market forces?
AnswerClick to flip back
A
Capitalism
💡 Explanation:
Capitalism is an economic system in which the means of production are privately owned and the distribution of income and wealth is determined by market forces, such as supply and demand.