Industrial Revolution_Capitalism

What is the primary characteristic of a capitalist economy?

• Government ownership of all industries

• Equal distribution of wealth among all citizens

• Private ownership of resources and businesses

• Complete absence of competition

Which of the following is a major advantage of capitalism?

• Guaranteed employment for all citizens

• Encouragement of innovation and entrepreneurship

• Equal income distribution among all people

• Government control over all industries

How does capitalism contribute to economic growth?

• By eliminating competition in the market

• By encouraging businesses to invest and expand

• By ensuring all resources are owned by the government

• By providing free goods and services to everyone

What is one major limitation of capitalism?

• Lack of incentives for businesses to grow

• Inequality in wealth distribution

• Complete government control over production

• Absence of private ownership

How does capitalism differ from socialism in terms of ownership of resources?

• In capitalism, resources are owned by the government, while in socialism, individuals own resources.

• In capitalism, private individuals own resources, while in socialism, the government controls major industries.

• Both capitalism and socialism promote complete government control over all resources.

• In socialism, businesses operate freely without any government interference, unlike in capitalism.