Question

Guys!

➝ What is Capitalist economy?

➝ Why is Capitalist economy less preferred?
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Answer 1

Answer:

Modern economies in much of Western society today are organized under the banner of capitalism. Some of the most important aspects of a capitalist system are private property, private control of the factors of production, accumulation of capital, and competition.

Put simply, a capitalist system is controlled by market forces, while a communist system is controlled by the government. Here we go over some of the main factors that describe a capitalist economy.

Answer 2

Answer:

• Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.
• Capitalism is the world's greatest economic success story. It is the most effective way to provide for the needs of people and foster the democratic and moral values of a free society. ... Even before the current crisis, capitalism received a "bad rap" from a culture ambivalent about free markets and wealth creation.

Explanation:

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