Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. The extent to which different markets are free and the rules defining private property are matters of politics and policy
The phrase that best describes British at the time is:
B. A constitutional monarchy with elected officials holding most political power
Explanation:
By the time of the 19th century Britain had taken a lot of the power of the monarchy away from them due to the constant and slow power struggle between the parliament and the ruler.
By the time of Queen Victoria the prime minster of the nation was a s powerful or more but in name the Queen remained on top and was a big presence on the world stage.
This is why the place was more of a constitutional monarchy than anything else.
