Question

Explain The Feautures Of Capitalist Economy.​

Answer 1

Explanation:

Capitalism is the most prominent in our current global economic system. Its main characteristic is that it most means of production and property are privately owned by individuals and companies. The government has a limited role in such an economy limited to management and control measures.

Answer 2

FEATURES:-

• There is a private ownership of the means of production.
• Means of production are used in a manner such that the profits are maximized: if labour is cheap, labour intensive methods of production is employed, and vice versa.
• Only those goods are produced which can be sold at a profit either in domestic market or foreign market.
• Distribution of the goods among people happens on the basis of purchasing power - the ability of people to pay for goods and services.
• The role of the government is largely confined to the maintenance of law and order and defence of the country.