Question

Give the major characteristics of a capitalist economy. explain 40 to 60 word​

Answer 1

Answer:

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Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy

Capitalism is an economic system characterized by private ownership of the means of production, especially in the industrial sector.

Capitalism depends on the enforcement of private property rights, which provide incentives for investment in and productive use of productive capital.

Capitalism developed historically out of previous systems of feudalism and mercantilism in Europe, and dramatically expanded industrialization and the large-scale availability of mass-market consumer goods.

Pure capitalism can be contrasted with pure socialism (where all means of production are collective or state-owned) and mixed economies (which lie on a continuum between pure capitalism and pure socialism).

Pure capitalism can be contrasted with pure socialism (where all means of production are collective or state-owned) and mixed economies (which lie on a continuum between pure capitalism and pure socialism).

Explanation:

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