An economic system based on the private ownership of property in which profit is pursued through the investment of capital and the employment of labor is called ___ .

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22-02-2022
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An economic system based on the private ownership of property in which profit is pursued through the investment of capital and the employment of labor is called ___ .

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cooldaniale81 cooldaniale81 · Answer 1 · 2022-02-22T15:23:23+01:00

cooldaniale81 cooldaniale81

22-02-2022

Answer: It would be Capitalism

Explanation:Capitalism is an economic system based on the private ownership of the means of production and its profit-oriented operation. Central characteristics of capitalism include capital accumulation, competitive markets, pricing systems, private property, property rights approval, voluntary exchange, and wage labor.

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