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What are the features of Capitalist Economy, Socialist Economy, and Mixed Economy ?
Features of Capitalist Economy :-
  1. There is a market where there are goods/services produced for exchange.
  2. Productive wealth is held mainly in private hands.
  3. Economic life is organised according to market principles of demand and supply.
  4. Material self-interest and profit maximisation provide the motivation for hard work
Features of  Socialist Economy :-
  1. Socialist Ownership of means of production.
  2. Existance of public sector.
  3. Decisive role of economic planning.
  4. Production guided by social benefits.
  5. Abolition of exploitation of labour
Features of Mixed Economy :-
  1. Resources are owned both by the government as well as private individuals that is co-existence of both public sector and private sector.
  2. Market forces prevail but are closely monitored by the government.
  3. Monopolies may be existing but under close supervision of the government.


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