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WAEC Government 2000 Question 30

Question 30

Political Ideologies

The system which allows private individuals and companies to own and control the means of production is known as

  1. A.socialism
  2. B.fascism
  3. C.capitalism
  4. D.communism.
Show the answer and explanation

Answer: C (capitalism)

Explanation

Capitalism is based on private ownership of the means of production.