Question

question 8 2 pt

1. which of the following is the defining characteristic of a capitalistic economy?

∘ fair distribution of income and low income taxes
∘ private ownership and protection of property rights
∘ well functioning capital markets
∘ equality of opportunity
∘ efficient allocation of resources

Explanation:

The defining characteristic of a capitalistic economy is rooted in the ownership structure of resources. Private ownership of the means of production and the legal protection of property rights are foundational, as they enable market interactions and individual economic freedom central to capitalism. Other options like fair income distribution or efficient resource allocation are outcomes or features, not defining traits.

Answer:

B. Private ownership and protection of property rights