Capitalism Is Based on the Concept of _________

question 31

Short Answer

Capitalism is based on the concept of _________.
A) Marx's classless society
B) social contract
C) public ownership of wealth-producing property
D) free markets

• A) Marx's classless society
• B) social contract
• C) public ownership of wealth-producing property
• D) free markets

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Definitions:

Sales Revenue

Financial income derived from transactions involving the sale of products or provision of services over an interval of time.

Gross Profit Rate

The ratio of gross profit to total sales, indicating the percentage of revenue that exceeds the cost of goods sold.

Net Income

The amount of earnings left after all expenses, including taxes and operating costs, have been subtracted from total revenue; a measure of company profitability.

Operating Expenses

These are costs associated with the day-to-day operations of a business, excluding direct production costs but including items like rent, utilities, and administrative salaries.