The basic characteristics of a pure capitalist system include the private ownership of the means of production and economic activity being coordinated through a system of markets and prices.

Question

Quizplus · Accepted Answer

This is correct. In a pure capitalist system, private individuals and businesses own and control the factors of production, and the economy operates through the free-market system of supply and demand. Prices are determined by the market, and competition is the primary driving force of the economy.

The Basic Characteristics of a Pure Capitalist System Include the Private