Question

The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ________ economy.

Answer 1

Answer:

The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ____capitalist____ economy.

Explanation:

For example, the US economy provides a good example of a capitalist economy.  A capitalist or market economy is also known as capitalism.  It is an economic system whereby private individuals or businesses own capital goods or means of production. Therefore, the production of goods and services is based on the market forces of supply and demand.  Since individuals and firms fix prices of and decide what goods and services to produce, rather than through central planning by the government, it is also known as a market economy.  The opposite is called a command economy, characterized by central government planning.