Question

Which of the following type of economy has purely private ownership?

विकल्प

• Socialist economy

• Capitalist economy

• Mixed economy

• Traditional economy

Answer 1

Capitalist economy

Explanation:

A capitalist economy is characterized by purely private ownership of resources and means of production. Individuals and businesses own capital and operate for profit with minimal government intervention. In contrast, socialist economies feature government ownership, mixed economies have both private and public ownership, and traditional economies rely on customs and communal ownership.