Gkseries in Business Environment MCQs

The economic system in which business units or factors of production are privately owned and governed is called as

Q. The economic system in which business units or factors of production are privately owned and governed is called as

A. Capitalism

B. Socialism

C. Democratic

D. Republic

Answer: Capitalism

Next Read: Under ____ economic system, all the economic activities of the country are controlled and regulated by the government in the interest of the Public »

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