Question

in which type of economic system is the focus on efficiency and profitability?
a. communism
b. planned economic system
c. capitalism
d. socialism
e. mixed market economy

Explanation:

To determine the economic system focused on efficiency and profitability, we analyze each option:

• Option A (Communism): Focuses on collective ownership and equality, not primarily on efficiency/profitability.
• Option B (Planned economic system): Centrally planned, with less emphasis on market-driven efficiency/profit.
• Option C (Capitalism): Characterized by private ownership, free markets, and the pursuit of profit, driving efficiency through competition.
• Option D (Socialism): Balances public welfare and market elements, but not as profit - efficiency - centered as capitalism.
• Option E (Mixed market economy): Combines market and government intervention, but capitalism is more purely focused on profit - driven efficiency.

Answer:

C. Capitalism