asked 125k views
1 vote
The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ________ economy.

asked
User Roselle
by
8.4k points

1 Answer

5 votes

Answer:

The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ____capitalist____ economy.

Step-by-step explanation:

For example, the US economy provides a good example of a capitalist economy. A capitalist or market economy is also known as capitalism. It is an economic system whereby private individuals or businesses own capital goods or means of production. Therefore, the production of goods and services is based on the market forces of supply and demand. Since individuals and firms fix prices of and decide what goods and services to produce, rather than through central planning by the government, it is also known as a market economy. The opposite is called a command economy, characterized by central government planning.

answered
User Mikpa
by
8.4k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.