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UNEMPLOYMENT — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsUNEMPLOYMENT2 Marks
Question
What do you mean by a capitalist economy?
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Answer

Capitalist economy is an economy where all factors of production are owned by private sector and decisions regarding production are taken by market mechanism, keeping in mind the objective of profit.

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