Purchase Solution

Market economy and capitalism

Not what you're looking for?

Ask Custom Question

Explain a market economy and capitalism. List and explain the characteristics of capitalism.

Purchase this Solution

Solution Summary

The solution does an excellent job of describing the differences between market economy and capitalism. The solution describes the five characteristics that are helpful to define capitalist ideology. The solution is brief and concise and clearly explains the question. It is ideal for students who are looking a brief response to the question. Overall, an excellent response.

Solution Preview

Market economy refers to private ownership of resources and the use of a system of markets and prices to coordinate and direct economic activity.

Following five characteristics are helpful to define the capitalism ideology:
1-Private Property - Property resources are owned by ...

Purchase this Solution

Free BrainMass Quizzes
Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.