Question

Which of the following countries is an example of a capitalist economy

• A. North Korea
• B. Cuba
• C. United States of America
• D. Venezuela

Answer 1

Answer:

C. United States of America

Characteristics of a Capitalist Economy

• Entrepreneurs have the freedom to produce any product.

• Private property rights.

• Profit-oriented activity.

• Traditional system of property transfer.

• Free market with no price controls.

• Examples of capitalist countries- United States of America, United Kingdom