The key element of individual property ownership is capitalism.
The following information related to capitalism is:
- It is an economic system in which the private sectors are owned & controlled the property as per the interest, demand, supply and they have the freedom to set the prices.
- The main feature is to make a profit.
- In this, the intervention of the government is minimized.
- Competition existed.
Therefore we can conclude that The key element of individual property ownership is capitalism.
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