Question

Capitalism is an economic system in which all property is shared among people true or false

Answer 1

Answer: false

Explanation: capitalism is an economic system in which the people own and control most of the properties. The means of production are largely or entirely owned privately, in which the government plays a secondary role. It is an economic system in which the country’s trade are owned and controlled by private owners for profits, rather than by the government. In a capitalist economy the production of goods and services is based on supply and demand in the general market. Private individuals are unrestrained , they determine where to invest, what to produce and at which price to exchange goods and services. Capitalism strictly depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.