Asked by
Elizabeth Scott
on Oct 13, 2024Verified
Private ownership of most of the means of production is common to
A) capitalism and communism.
B) capitalism and fascism.
C) capitalism and socialism.
D) fascism and communism.
Private Ownership
The legal right of individuals or entities to own property, assets, or businesses without governmental intervention.
Means Of Production
The physical, non-human inputs used for the production of economic value, such as factories, machines, and tools.
- Discuss the concept of private vs. public ownership of resources and its implications for economic output and efficiency.
Verified Answer
SA
Learning Objectives
- Discuss the concept of private vs. public ownership of resources and its implications for economic output and efficiency.
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