Capitalism is A. The economic system that democracies follow. B. An economic system in which the government owns the resources a
nd distributes them to meet social needs. C. An economic system in which all resources are privately owned and markets determine how they are distributed. D. The services offered by a bank.
C) Capitalism is <u>system of economy in which all resources are owned by a private company and determines how the resources are distributed in the markets</u>.
<h2>Explanation:</h2>
Capitalism dates as back as the middle age even though the system was only documented in 16th century. Capitalism got greater recognition due to the English cloth industries. The cloth industries prompted governments to invest in increasing production instead of investing in cathedral and pyramids which were deemed unenterprising and unproductive investments.
Another factor that contributed to capitalism was the mining sector of the Europeans that supplied metals and minerals. This resulted in increase in prices but less increase in wages which benefited the capitalists.
One of the main purposes of the British Declaratory Act of 1766 was to end the boycotts that were taking place in America over British goods, due to what the colonists saw as unfair taxation.
