MCQ practice · SSC Bangladesh and Global Studies Board questions · Chapter 10: The National Resources and the Economic Systems
Under which economic system are the means of production privately owned?
Think it through first, then pick an option.
- a Capitalist
- b Socialist
- c Mixed
- d Islamic
Answer and explanation
Correct answer: a Capitalist
In the capitalist system the means of production are privately owned.
Why the other options are wrong
- b Socialist: In the socialist system the factors of production are state-owned and everything runs under a central plan. The point asked is not of this system but of the capitalist system: the means of production are privately owned.
- c Mixed: In the mixed system the public and private sectors coexist. The point asked is not of this system but of the capitalist system: the means of production are privately owned.
- d Islamic: In the islamic system economic functions run by the Shariah and interest is prohibited. The point asked is not of this system but of the capitalist system: the means of production are privately owned.
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