The system that is based on a free market economy where individuals are allowed to own private property, businesses, industries, and farms. Individuals have the right to start their own businesses and profit from their hard work is referred to by what term?CapitalismCommunismRadicalismSocialism

A free enterprise system is also called ____________ or a market economyResponsescapitalismcapitalisma mixed economya mixed economycommunismcommunisma dictatorship

.An economic system whereby the government controls the means of production and shares the wealth of the nation equally is called  _____________a. Communismb. Capitalism c.c. Socialismd. Oligarchy.

The economic system under which basic industries are operated by the government or owned by the private sector under strong government control is called:Group of answer choicescapitalismScratchsocialismScratchcommunismScratchpublic enterpriseScratchlaissez faireScratch

Capitalism is an economic system based on the private ownership of the means of production and their operation for ….........a.capitalb.profitc.labourd.wage

In which economic system is distribution done according to the principle ‘from each person according to his needs and ability’.a. Communismb. Capitalismc. Socialismd. Oligarchy.