03-10-2017
Social Studies

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Who owns property and means of production in the system of capitalism?

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nwabekesandra11 nwabekesandra11

26-02-2020

Answer:

Private individuals

Explanation:

Capitalism or free market is the type of economic system in which the means of production are owned and controlled by private individuals. In this system private individuals play greater role than government in taking decisions on what to produce, how to produce, for whom to produce and the distribution of what has been produced.

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