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What are the importance feature of capitalist economy?
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What are the importance feature of capitalist economy?
1. It is an economic system in which no restrictions is imposed by government and every individual is enjoying economic freedom 2.Factor of production are privately owned 3.Profit maximization is prime consideration 4.Large number of buyers and sellers exist in the market and there is tough competition
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What are the importance feature of capitalist economy?
In a capitalist economy, also called market economy, only those consumer goods will be produced that are in demand, i.e., goods that can be sold profitably either in the domestic or in the foreign markets. If labour is cheaper than capital, more labour-intensive methods of production will be used and vice-versa. In a capitalist society the goods are distributed among people not on the basis of what people need but on the basis of Purchasing Power-the ability to buy goods and services.
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What are the importance feature of capitalist economy?
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What are the importance feature of capitalist economy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What are the importance feature of capitalist economy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the importance feature of capitalist economy?.
What are the importance feature of capitalist economy? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What are the importance feature of capitalist economy? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the importance feature of capitalist economy?.
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