WAEC - Government (2011 - No. 21)
Which of the following is true about a capitalist state?
Private individuals control the economy
The workers are not exploited
Government controls the means of production
There is no class struggle
Explicaţie
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.