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A: This is MCQ question
Discuss "MARKET ECONOMY (CAPITALISM)" with definition, characteristics, examples, advantages and disadvantages
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- What are the main differences between a capitalist (market-based) and socialist (command) economic system?Explain the difference between market capitalism, centrally planned capitalism, centrallyplanned socialism, and market socialism. Give an example of a country that illustrates eachtype of system.Define economics and describe the two types of economic systems: capitalism and command economy.
- What are the types of economic systems? How will you differentiate Command from a Market economy?Which of these economic systems have the most in common? A Free-enterprise economy and market economy B Command economy and socialism C Command economy and capitalism D Market economy and capitalismDescribe the major characteristicsof capitalism, socialism, and mixedeconomic systems.
- The list below describes characteristics of a type of economic system. Government regulates the factors of production for goods and services. Individual and business control some factors of production. Supply and demand determine more economic production. Private property rights with some government intervention. Which economic system is most likely described by the list? Mixed-market economy Free-market economy Command economy Traditional economyIn a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this system, is there a greater gap between the rich and the poor?Which of the following is not correct about a socialist economic system? a. Absence of Economic stability b. Absence of technology c. Absence of monopoly d. Absence of competition