Concept:An economic system is defined by who owns and controls the means of production and exchange.
Explanation:In a capitalist system, private individuals and firms own land, factories, and businesses.
These private owners control production and exchange to make profit.
In socialist and traditional systems, the state or community usually controls these resources.
In a mixed system, both the state and private individuals share control.
Therefore, the system where private individuals control the means of production and exchange is capitalism.
Answer:C. capitalist system