Question

Give two features of a capitalist economy.

Explain any two features of a capitalist economy.

Answer 1

1. Private Property and Inheritance: In a capitalist economy, private property exists and individuals have the right to acquire private property and pass it on to their heirs after death. However, this right is not absolute or unrestricted.
2. Freedom of Enterprise and Contract: Every individual has the freedom to start their own business and enter into contracts freely. People can choose occupations according to their ability and training, although certain restrictions may apply for reasons such as national security or public interest.