The free enterprise, the private property, economic freedom and consumers' sovereignty are the characteristics of _____.

Capitalistic economy

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Socialist economy

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Mixed economy

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None of the above

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Solution

The correct option is A Capitalistic economy

Capitalism is an economic system based on private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labour, voluntary exchange, a price system, and competitive markets.

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A mixed economy is an economic system combining private and state enterprise.

Capitalist economy provides complete economic freedom to

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