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Free market economic systems encourage competition and entrepreneurship through the idea of free choice with little to no government interference or barriers. This is contrast to strict command market economic models such as Stalinism and War Communism where commercial questions are strictly under state control.
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∙ 9y ago
paulbenn
Freedom of choice implies Socialism, where people contribute what they can and wish to. Capitalism has no freedom of choice for the vast majority.
Kennedy D'Amore
Wiki User
∙ 13y agounplanned or free enterprise or capitalist economic system.
Wiki User
∙ 12y agoFree enterprise system. Hope i answered your question.
Wiki User
∙ 8y agoCAPITALISM is an economic system that is primarily based on the choices of individual actors and owners.
paulbenn
It certainly isn’t capitalism, where the vast majority have little choice over how they live.
Wiki User
∙ 11y agoFree Enterprise
Wiki User
∙ 12y agocapitalism
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Economics as a system based on the individual?
An economic system based on individuals looking out for their own and their families' best interest is known as a (an)
Why did the former Soviet Union use a command economic system instead if one based on prices?
The former Soviet Union used a command economic system instead if one based on prices it hoped to create a society in which everyone had the same choice.
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
What is a traditionalist-based economic system?
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
The Songhai economic system were based on?
Nothing
Economics as a system based on the individual?
An economic system based on individuals looking out for their own and their families' best interest is known as a (an)
Why did the former Soviet Union use a command economic system instead if one based on prices?
The former Soviet Union used a command economic system instead if one based on prices it hoped to create a society in which everyone had the same choice.
What is meant by choice based credit system?
choice crditi system is---------------- for girl
What is the economic system based on private ownership investment and profit?
Capitalism is the economic system based on private ownership and profit.
What is meant by Choice based Credit Learning System?
choice crditi system is---------------- for girl
What is a traditionalist-based economic system?
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
What are examples of social capital?
capitalism: an economic system based on private ownership of capital socialism: an economic system based on stateownership of capital
Economic system are based on?
Economic systems are based on the reflection on the values, assumptions and goals of a particular culture.
The Songhai economic system were based on?
Nothing
Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
Who has a traditional economic system?
A traditional economic system would have to be a system based on the tradition of a particular region. that would imply that virtually every country has an economic system that is traditional.
IS it true or false that Karl Marx emphasized that a society's economic system was shaped by its value system?
Indeed Marx emphasis was on a value based society that supported inequality, based on an individual's social and economiv standing.
