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Private Ownership of Most of the Means of Production Is

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Private ownership of most of the means of production is common to


Definitions:

Household Budget

An estimate of an individual's or family's income and expenses over a specified period, used for managing personal finances.

Economic Theory

A set of principles and concepts used to explain how economies operate and to make predictions about economic behaviors and outcomes.

China

A country in East Asia, known as the world's most populous nation with a continuous culture stretching back nearly 4,000 years.

United States

The United States is a country in North America, known for its significant influence on global economic, political, and cultural affairs.

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