Who owns the means of production, resources, and businesses in a capitalist economy?

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10 July, 17:55

Who owns the means of production, resources, and businesses in a capitalist economy?

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Braden Huang · Answer 1

The means of production, resources, and businesses in a capitalist economy are based on the private ownership (as opposed to public ownership). Private ownership is a basic characteristic of Capitalism, together with the notion of market economy, in which the economic decissions are made following the trends of supply and demand.