Asked by Allison Galvan on Jun 14, 2024
Verified
Capitalism is a system based on private ownership and sharing of resources.
Capitalism
Capitalism is an economic system characterized by private ownership of the means of production, where profits are generated through the operation of competitive markets.
Private Ownership
The legal right of individuals or entities to own property and assets independently of the government or communal entities.
- Acquire knowledge on the essential principles of political economy, capitalism, and the legal institutions in Canada.
Verified Answer
BP
Brandi ParsonJun 14, 2024
Final Answer :
False
Explanation :
Capitalism is based on private ownership of resources and means of production, not on sharing resources.
Learning Objectives
- Acquire knowledge on the essential principles of political economy, capitalism, and the legal institutions in Canada.