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Capitalist Economy: Under capitalist economy factors of production are owned and managed by private entrepreneurs. Production takes place on. the initiative an enterprise of the people profit. “The primary roles of the government are essentially to
Restore and develop the free market mechanism, wherever it is possible to ensure workable competitive conditions;
Remove all unnecessary restrictions on the operation of free competitive market; and
Provide a background through necessary government interventions and controls in which free competition can work effectively."

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9503195

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