The term "capitalism" refers to which of the following?
A) A religion based on amassing capital.
B) An economic system characterized by private ownership of resources, and decentralized market allocation.
C) An economic system characterized by government ownership of resources and centralized allocation.
D) None of the above are correct.

Question

Quizplus · Accepted Answer

Capitalism is an economic system characterized by private ownership of resources, and decentralized market allocation. It involves individuals and businesses using their resources (capital) to produce and exchange goods and services with the aim of making a profit.

The Term "Capitalism" Refers to Which of the Following