What is capitalism?

History

1 answer:

Lemur [1.5K]3 years ago

3 0

<u>Answer</u>:

Capitalism is A) an economic system which allows individual to own and operate private businesses.

<u>Explanation</u>:

The term Capitalism refers to an economic system that encourages private ownership. Private ownership means that the resources are owned by an individual or private company. A country is said to be capitalist if its trade, industry along with profits are managed by the private companies.

In other words, individuals are authorized to own and run private enterprises. Capitalism is one of the earliest types of economic systems of the world and is embraced by various countries like the United States, Canada, Germany, United Kingdom, Japan, etc.

Hence, option A is right, Capitalism permits people to own and run private enterprises.

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