Which economic system places the factors of production in the hands of individuals with minimal state intervention?

The economic system that places the factors of production in the hands of individuals with minimal state intervention is known as capitalism. In capitalism, private ownership and free markets drive economic decision-making, allowing individuals to operate businesses and trade freely. The role of the state is limited primarily to enforcing laws and protecting property rights, rather than controlling or regulating economic activity extensively. This system promotes competition and innovation, leading to economic growth and efficiency.