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Explain how capitalism deals with the factors of production.

A. In capitalism, the factors of production are privately owned.
B. In capitalism, the factors of production are owned by the ruling elite.
C. In capitalism, the factors of production are owned by the government.
D. In capitalism, the factors of production are collectively owned by all people in the country.

Sagot :

GinnyAnsweridn

Final answer:

Capitalism involves privately owned means of production for personal profit and societal benefit.


Explanation:

Capitalism is an economic system where the means of production are privately owned. This includes resources like land, technology, and tools needed for production. The main goal in capitalism is the pursuit of personal profit, leading to the production of goods and services benefiting society as a whole.


Learn more about Capitalism here:

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