mention the features of market mechanism system
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Features of Market Mechanism System
Ownership of resources of production is either private or individual. 2. Economic decisions are taken while keeping price mechanism in mind. ... Economic decisions are taken only after keeping personal interest or profit.
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Features of Market Mechanism System
The features of market mechanism system of allotting resources are as follows:
1. Ownership of resources of production is either private or individual.
2. Economic decisions are taken while keeping price mechanism in mind.
3. Economic decisions are taken only after keeping personal interest or profit.
4. Price mechanism takes care of production and income distribution.
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