Economic systems where people own property and conduct business free from despotic governments are often referred to as capitalistic economies. Time and necessity, however, has placed certain restrictions and regulations on such economic systems, based on laws of the government. Practically speaking, these new economies still allow for people to own and make economic decisions are best labeled " free market economies". This implies that the freedoms mentioned are still in place but subject to fair laws and regulations that help all people. Sometimes these economies are also referred to as" mixed economies" because of government involvement into economic affairs and because taxation can influence business decisions.
Capitalism otherwise known as the market economy Capitalism otherwise known as the market economy
different people make different economic decisions
command economy
They make the economic decisions.
Market Economy
There are several such systems, but the most popular is the laissez-faire system.
different people make different economic decisions
command economy
C. They make the economic decisions
They make the economic decisions.
Market Economy
C. They make the economic decisions
There are several such systems, but the most popular is the laissez-faire system.
capitalism
C. They make the economic decisions
C. They make the economic decisions
C. They make the economic decisions
mixed economy