The Following Are All Elements of Capitalism Except

question 6

Multiple Choice

The following are all elements of capitalism except

• A) the private ownership of the means of production.
• B) wage labor.
• C) without a buyer for their labor, workers have no means of supporting themselves.
• D) peasants are tied to a lord's domain.
• E) production for the market.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated for reporting and taxation purposes.

Cost of Goods Sold

Costs directly related to creating products that a company offers for sale.

Net Income

The amount of earnings left over after all expenses have been deducted from revenue, indicating the financial profitability of a business.