Capitalism is an economic system in which the means of production are:
APrivately owned
BState owned
COwned by guilds
DOwned by castes
Answer & Solution
Correct answer: A. Privately owned
1. Profits are accumulated within a market system.
2. The means of production are privately owned.
3. Western colonialism grew with capitalism.
_Source: NCERT Class 12 Social Change and Development in India, Chapter 1, Structural Change._
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