Consider the following statements with reference to the Capitalist Economy:
1. The economic system where the factors of production are controlled and regulated by private businesses.
2. Factors of Production include capital goods, labour, natural resources and entrepreneurship.
3. There is no government interference in the daily activities of the business.
How many of the above statements are correct?
1
Only one
2
Only two
3
All three
4
More than one of the above
5
None of the above