Question

Which of the following is the correct definition of capitalism?

An economic system in which a country's trade, business, and industry are controlled by private indivduals.
An economic system in which the government and private individuals share equal control of a country's trade, business
and industry.
An economic system in which a country's trade, business, and industry are controlled by the government.
An economic system in which there is no privately owned property.

Answer 1

An economic system in which a country's trade, business, and industry are controlled by private individuals.

Step-by-step explanation:

Capitalism is an economic system characterized by the private ownership of the means of production and the creation of goods and services for profit. In a capitalist system, individuals and businesses operate in a competitive market and are free to buy and sell goods and services as they see fit. Prices are determined by supply and demand, and the pursuit of profit drives economic activity.

In contrast to other economic systems, such as socialism or communism, capitalism is characterized by the private ownership of the means of production and the absence of government control over the economy. In a socialist or communist system, the government plays a larger role in regulating and controlling economic activity, often with the goal of redistributing wealth and promoting equality.