in which economic system freedom of an individual is maintained? one or two words
Answers
Explanation:
Economic freedom, or economic liberty, is the ability of people of a society to take economic actions. This is a term used in economic and policy debates as well as in the philosophy of economics.[1][2] One approach to economic freedom comes from the liberal tradition emphasizing free markets, free trade, and private property under free enterprise. Another approach to economic freedom extends the welfare economics study of individual choice, with greater economic freedom coming from a larger set of possible choices.[3] Other conceptions of economic freedom include freedom from want[1][4] and the freedom to engage in collective bargaining.[5]
Answer:
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.