Which of the following is an accurate definition of capitalism? O capitalism is an economic system in which the means for production are owned collectively O capitalism is an economic system in which the means for production are owned privately capitalism is an economic system in which the means for production are owned by the goverment O capitalism is an economic system that does not have any concept of private property

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A: In command economy all the production and allocation decisions are centralised.

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A: Macroeconomics refers to the study of the economy as a whole.

Q: What thing is considered as an integral part of the capitalistic economy? One word

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Q: Discuss the differences between capitalist and command economy.

A: Economy: It refers to the system of organizing money, industry, and trade of a country or region.

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Q: What are the central features of capitalism as an economic system?

A: GIVEN    the central features of capitalism as an economic system