The economic system that is based on private ownership and competition motivated by profit is called _____. socialism capitalism

Question

Nikitich [7]

3 years ago

10

The economic system that is based on private ownership and competition motivated by profit is called _____. socialism capitalism

mercantilism communism

History

2 answers:

WARRIOR [948] · Answer 1 · 2022-08-07T22:14:48+03:00

WARRIOR [948]3 years ago

6 0

capitalism is the anwser

sashaice [31] · Answer 2 · 2022-08-07T20:54:09+03:00

sashaice [31]3 years ago

4 0

<span>The economic system that is based on private ownership and competition motivated by profit is called "capitalism," although there is almost always a certain degree of government intervention in such economies. </span>