"It is wrong to assert that the individual ownership is a relic of barbaric age."Comment.

Dear Student,

Individual ownership is a relic of barbaric age means that it has no justification or importance in modern context. 

The above statement is quite true because the individual ownership is not a relic of the barbarous or ancient times. It is needed today and it is developing everyday. It is absolutely wrong to say that it had its importance in the ancient times and is not needed today. Organisation of individual ownership are every where.  Main advantages of individual ownership are:

1. Easy formation
2. Quick decision making
3. Personal contact with customers
4. Personal control
5. Increase in self-confidence
6. Saving of taxes
7. Minimum government interference
8. Development of small and cottage industries
9. Proper utilisation of limited resources
10. Equal opportunity to all people.


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