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23 February, 06:07

The mode of production characterized by the dominance of the owners of industry over the mass of industrial workers is called

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  1. 23 February, 06:12
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    The mode of production characterized by the dominance of the owners of industry over the mass of industrial workers is called "capitalism".

    Capitalism refers to an economic system in which capital merchandise are possessed by private people or organizations. The creation of merchandise and enterprises depends on free market activity in the general market, instead of through focal arranging. The most perfect type of private enterprise is free market or free enterprise free enterprise, in which private people are totally excessive in figuring out where to contribute, what to deliver or offer and at which costs to trade merchandise and ventures, working without checks or controls. Most current nations rehearse a blended industrialist arrangement or some likeness thereof that incorporates government direction of business and industry.
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