Explain the nature of the Capitalist Economy. - Vidyadip

Question

Explain the nature of the Capitalist Economy.

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Answer

The ownership and control of means of production is in the hands of the private individuals in the Capitalist Economy.
There is no control of the government over economic activities in their ‘Free Market Economy’.
The objective of economic activities is to earn maximum profit.
The capitalist economy exists in Germany, Japan and the USA.

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