Question

The various types of consumer goods produced in a capitalist system are determined by: a. households...

The various types of consumer goods produced in a capitalist system are determined by:

a.

households
b.

businesses
c.

the government
d.

the cost of producing the goods
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Answer #1

Capitalist system is the form of economic system where the capital goods are owned by private individuals or businesses. The supply and demand in the general market are decides the production of goods and services.

The purest of capitalism are the free market or the laissez-faire capitalism. Which is controlled by the private individuals or businesses, where they decides where to invest, what to produce or sell etc. It is free from any government control/regulation i.e. private individuals are unrestrained.

But now a days most countries are followed mixed capitalism system where to a level government regulation is involved.

  

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