how entrepreneurship is encouraged in capitalism economic system
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Capitalism, also known as the private enterprise system, is based on competition in the marketplace and private ownership of the factors of production (resources). ... The right to own property is central to capitalism. The main incentive in this system is profit, which encourages entrepreneurship.
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In pure capitalism, all the factors of production are owned privately, and the government does not try to set prices or coordinate economic activity. The right to own property is central to capitalism. The main incentive in this system is profit, which encourages entrepreneurship.
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