This an economic system where the factors of productions are privately owned

Capitalist economic system is an economic system where the factors of productions are privately owned.

Explanation:

The capitalist economic system is that economic system in which the resources and the factors of production are owned privately and are in the hands of private persons. The interference of the government in this form of economic system in minimum.

The major aim of this system is to maximize the profits and not to increase the welfare of the people of the country. It is also known as the free market economy where the producers want to increase their profit.

the correct answer is ) possibility.

demonstrating opportunity cost is done through production possibility.

the opportunity cost can be demonstrated using the production possibility frontier or curve. this graphic shows the total number of possibilities for two products when we have the resources needed and used in an efficient manner. the main resources could be money, labor, and technology. the curve shows that the production of one good increases when the production of the othe