Which of the following is true about a capitalist state?
GOVERNMENT
WAEC 2011
Which of the following is true about a capitalist state?
- A. Private individuals control the economy
- B. The workers are not exploited
- C. Government controls the means of production
- D. There is no class struggle
Correct Answer: A. Private individuals control the economy
Explanation
Capitalist state is an economic system based on the private ownership of the means of production and their operation for profit. Characteristics of capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets.
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