Question

Capitalism is a market economic system with

a.	most production processes controlled by the government.
b.	most production processes controlled by private firms with minimal government control.
c.	all production processes controlled by private firms.
d.	all production processes controlled by the government.

Answer 1

Capitalism is a market system in which most of the production processes and economic activity is controlled by the private individuals and there is minimal government intervention

The government intervention in the market can be in the form of price ceiling and price floor ing

This system is very popular in United States

The purest form of capitalism is also called laizzez faire capitalism

Opposite to it is command economy in which government controls most of the processes and system within the economy

The best example of this is North Korea

So the correct answer here is option B