What are the characteristics of capitalism? Select all that apply.

The government sets prices and wages.

Farms and factories are owned by private individuals.

People are free to pursue their own self-interests.

Supply and demand determine which goods, and how many, are produced.

It is favored by philosopher Karl Marx.

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Vaughn Wilkinson

3 August, 03:24

What are the characteristics of capitalism? Select all that apply.

The government sets prices and wages.

Farms and factories are owned by private individuals.

People are free to pursue their own self-interests.

Supply and demand determine which goods, and how many, are produced.

It is favored by philosopher Karl Marx.

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Loosetooth · Answer 1

Economic systems employed by nations. Two such types, socialism and capitalism are the most common. Capitalism is often referred to as a free market economy in its purest form; a common type of socialism is communism.