A capitalist economy is characterized by _______.

free private enterprise

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market mechanism

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profit motive

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all of the above

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Solution

The correct option is D all of the above
Capitalism is a system of economic organization featured by private ownership.
The following are the characteristics of capitalism:
(i) Private Property
(ii) Price Mechanism
(iii) Freedom of Enterprise
(iv) The sovereignty of the consumer
(v) Profit Motive
(vi) Market Mechanism (No Government Interference)
(vii) Free Private Enterprise (Democratic)
(viii) Self-Interest

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