Question

discuss three merits and demerits of capitalistic system​

Answer 1

Explanation:

Merits and Demerits of Capitalistic System

(i) Economic Freedom: ...

(ii) Automatic Working: ...

(iii) Variety of Goods and Services: ...

(iv) Optimum Use of Resources: ...

(v) Efficient Producer: ...

(vi) Higher Standard of Living: ...

(vii) Incentive to efficient: ...

(viii) New Inventions:

Answer 2

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Merits of the Capitalist Economy

It leads to a higher rate of the economy and more economic growth. There is absolute economic freedom that means freedom to choose occupation and enterprise. As per the availability of resources, the optimum utilization of goods is to be done.