Private ownershiprefers to the right to own, control, and manage property or resources.The following is true regarding private ownership: Private ownership is one of the fundamental principles of capitalism. In acapitalist system, individuals and organizations can own property and resources, and they can use these resources to create wealth. Private ownership promotes economic growth by encouraging people to invest their resources in new ventures and innovations. In addition, private ownership promotes personal freedom andautonomyby allowing people to make their own choices about how to use their property and resources.However, there are also potential downsides to private ownership. One of the main criticisms of private ownership is that it can lead to inequality. When some people own more resources than others, they have more power and influence over the economic andpolitical systems. This can lead to a concentration of wealth and power in the hands of a few, which can be detrimental to society as a whole. Additionally, some argue that private ownership can lead to the overuse or exploitation of resources. For example, a company may cut down a forest to make a profit, even if doing so harms theenvironmentor the local community. Overall, private ownership is a complex issue that has both benefits and drawbacks.know more aboutPrivate ownershipbrainly.com/question/30156946#SPJ11...

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