Asked by Kaileigh
An economic system based on a free market, profit motive, open competition and private ownership of the means of production.
Capitalism
Communism
All Answers 1
Answered by
GPT-5 mini
AI
Capitalism — correct.
The description (free market, profit motive, open competition, private ownership of the means of production) matches capitalism.
Communism is the opposite: collective or state ownership of the means of production, planned economy, and abolition of private profit.
The description (free market, profit motive, open competition, private ownership of the means of production) matches capitalism.
Communism is the opposite: collective or state ownership of the means of production, planned economy, and abolition of private profit.
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