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    Market economy and capitalism

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

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    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 ...

    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.