No products in the cart.

What are the features of capitalist …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

What are the features of capitalist economy ?

Posted by Tamanna Singh 6 years, 11 months ago

CBSE > Class 12 > Economics

1 answers

Yogita Ingle 6 years, 11 months ago

Right to Private Property: This is the essence of capitalism. This right means that private property such as property, factories, machines, plants etc. can be owned under private individuals and companies. The three things covered under this right are: Every individual can acquire any amount of property, He can use these properties as he wishes, He also has the right of inheritance. So he can inherit the property from his forefathers. And he can also pass it on to his successors on his death.
Price Mechanism: Price mechanism is like an invisible hand that controls the workings of a capitalist economy. The forces of supply and demand will determine the prices and the level of productions in the economy. The government will not have any interference in this matter.
Profit Motive: The driving force behind any capitalist economy is the profit motive. All companies wish to produce and sell their products to maximize their profits. This also induces healthy competition in the economy.
Freedom of Enterprise: In capitalism, every individual is free to make his own economic choices without any intervention. This includes both the consumer and the producers. So a producer is free to produce any goods or services. And the consumer is free to buy whatever he desires and from whomever, he wants without restrictions.

ANSWER

https://examin8.com

Test

Related Questions

What is receipt?

Posted by Geeta Gautam 1 year, 5 months ago

CBSE > Class 12 > Economics

0 answers

Is inclusive growth Achievable for a developing country like India when exposed to the process of privatisation and globalization

Posted by Niangmuankim Vaiphei 1 year, 5 months ago

CBSE > Class 12 > Economics

0 answers

Economic Reforms Since 1991 notes

Posted by Dipika Sharma 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

Two types of marke diagram and explanation

Posted by Rijum Karlo 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

Trends in credit availability

Posted by Shruti Singh 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

why should the aggregate final expenditure of an economy be equal to the aggregate factor payment

Posted by Nandita Sharma 1 year, 6 months ago

CBSE > Class 12 > Economics

1 answers

What is deficit ?

Posted by Sakshi Singh 5 months, 3 weeks ago

CBSE > Class 12 > Economics

1 answers

Explain the limitation of GDP as wellfare

Posted by Naman Jain 1 year, 5 months ago

CBSE > Class 12 > Economics

1 answers

Industrial licensing was used to promote regional equality. Discuss

Posted by Niyati Garg 1 year, 5 months ago

CBSE > Class 12 > Economics

0 answers

Economics project on function of RBI

Posted by Mehar Ansari 1 year, 6 months ago

CBSE > Class 12 > Economics

0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App