What is the meaning of capitalist economy?
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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.
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Capitalist Economy is the economic system where production and property are privately owned by individuals and companies. The free market determine the supply, demand, and prices of the products. There is no direct government intervention.
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