Capitalism can be defined as an economic system in which the means of production, exchange and distribution of goods and services are in the hands of private persons, providing or borrowing the necessary capital and taking the profits after all the costs of the production have been met. However, it should be noted that government’s participation in production is very low in capitalist economy. Private individuals have an edge over the government in this area. U.S.A. is a good example of a capitalist economy.   Features of Capitalism Consumer sovereignty: Choices are made by the people; they decide how to spend their money. Production: What to be produced is based…

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