Question

Q1 What do you understand by Capitalist economy?​

Answer 1

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Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.

Examples include China and Vietnam. Some others are capitalist and governed by monarchs, oligarchs, or despots. The United States is mostly capitalistic. The federal government does not own corporations.