🎴 Flashcard Mode
Assessing the Role of Economic Systems in Promoting Economic Freedom and Opportunity
Card1 / 15
Mastered0
Review0
QuestionClick to flip
Which economic system is characterized by private ownership of resources and the allocation of resources through market forces?
AnswerClick to flip back
A
Capitalism
💡 Explanation:
Capitalism is an economic system in which private individuals or businesses own and control the factors of production, and the allocation of resources is determined by market forces, such as supply and demand.