Question

Which economic system is defined as the use of private resources to make a profit?

a. socialism
b. capitalism
c. communism
d. total command

Answer 1

This would be capitalism.

The "capital' in capitalism refers to the fact that the capital (=property) is in private hands, and those who possess it can use it to make a profit.

Answer 2

Answer: The answer is b: capitalism.

Capitalism is defined as the use of private resources to make a profit.

Explanation:

Capitalism refers to an economic system in which private own and controls the country’s trade, industry, and profits. In capitalism, the private owns the factors of production which are natural resources, labour, capital and entrepreneurship. The main feature of capitalism is to make a profit.