what are five characteristics of capitalism quizlet?
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['Private ownership.', 'Free enterprise.', 'Supply and demand.', 'Competition.', 'Profit Motive.']
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['Vertical.', 'Horizontal.', 'Leverage.', 'Growth.', 'Profitability.', 'Liquidity.', 'Efficiency.', 'Cash Flow.']
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Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include private property and the recognition of property rights, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets.
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Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.
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What are the five characteristics of perfect competition? Numerous buyers and sellers, standardized products, freedom to enter and exit the markets, independent buyers and sellers.
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The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management.
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['5 characteristics. Private property, Freedom of choice, Motivation of self intrest, competition, limited government.', 'Private Property. People own stuff, not the government.', 'Freedom of choice. ... ', 'Motivation of self intrest. ... ', 'Competition. ... ', 'Limited Government.']
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Terms in this set (18) What are the six major characteristics of a pure market economy? Freedom of enterprise, little or no government control, freedom of choice, private property, profit incentive, and competition.
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['Shareholders or Owners.', 'Customers.', 'Employees.', 'Government.', 'Society and Environment.']
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['The main features of socialist economy are as follows:', '(i) Collective Ownership:', '(ii) Economic, Social and Political Equality:', '(iii) Economic Planning:', '(iv) No Competition:', '(v) Positive Role of Government:', '(vi) Work and Wages According to Ability and Needs:']
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['Property: Social Ownership. ... ', 'Allocation: Economic Planning. ... ', 'Organization: Self-Management.']
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['State Ownership. The state owns all capital in a communist system including all land, machines, buildings and infrastructure. ... ', 'Central Planning. ... ', 'Bureaucratic Elite. ... ', '"Common Good" ... ', 'Competition. ... ', 'Austerity. ... ', 'Single Party. ... ', 'Repression.']
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['(1) Huge Financial Resources:', '(2) Efficient Management:', '(3) Limited Liability:', '(4) Transferability of Share:', '(5) Diffusion of Risk:', '(6) Stability:', '(7) Public Confidence:', '(8) Scope for Expansion:']
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['PRIVATE PROPERTY. ... ', 'FREEDOM OF ENTERPRISE AND CHOICE. ... ', 'MOTIVE OF SELF-INTEREST. ... ', 'COMPETITION. ... ', 'SYSTEM OF MARKETS AND PRICES. ... ', 'LIMITED GOVERNMENT. ... ', 'Maintaining Legal and Social Framework. ... ', 'Providing Public Goods and Services.']
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['Wealth Producing Activities:', 'Satisfying Human Wants:', 'Money Income:', 'Developmental Activities:', 'Proper Allocation of Resources:', 'Optimum Use of Resources:']
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['Capitalism. The United States is a capitalist economy. ... ', 'Freedom of Choice. The consumer is king in the US economy. ... ', 'Open Markets. Our economy is one of the most open economies in the world, and it thrives on competition. ... ', 'Free Markets. ... ', 'Property Rights.']
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A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.