Explain a market economy and capitalism. List and explain the characteristics of capitalism.© BrainMass Inc. brainmass.com March 4, 2021, 5:38 pm ad1c9bdddf
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 ...
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