Economy, asked by kevingonurose, 1 month ago

what is the guiding principle of a capitalist economy?

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Answered by vanunagar13

8

Answer⤵

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Answered by kedarisuraj2207

0

Answer:

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.

Explanation:

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