Question

Merits of capitalistic economy​

Answer 1

Merits of the Capitalist Economy

1. It leads to a higher rate of the economy and more economic growth.
2. There is absolute economic freedom that means freedom to choose occupation and enterprise. As per the availability of resources, the optimum utilization of goods is to be done.

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Answer 2

Answer:

The producers are more incentivized to produce their best goods and services due to the feature of the profit motive and the ability to hold private property. The economic growth of an economy is also faster and higher in a capitalist economy