Under which economic system are businesses privately owned, with the possibility of profit? A. Traditional economy B. Command economy C. Communist system D. Market economy

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Rigyt · Answer 1 · 2020-06-13T18:13:38+0000

Answer: D. Market economy

Explanation:

A market economy is known to be an economy in which the market is controlled by the mechanism of demand and supply. Furthermore, there exist private ownership of the means of production and distribution in which they have the right to produce and sell their products. Thus, private businesses exist with the sole aim to get profit and revenue.

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Under which economic system are businesses privately owned, with the possibility of profit? A. Traditional economy B. Command economy C. Communist system D. Market economy

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