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Definitions from the Web

Market Capitalism

Description:

Market capitalism, also known as free-market capitalism or laissez-faire capitalism, is an economic system in which the means of production and distribution of goods and services are predominantly owned and controlled by private individuals and businesses. In market capitalism, prices for goods and services are determined by supply and demand in a free and competitive market without significant government intervention.

Senses:

1. Economic System: Market capitalism refers to the economic system that allows private individuals and businesses to own and control the means of production and distribution.
2. Free Market: Market capitalism emphasizes the operation of a free market where prices and trade are driven by supply and demand, rather than by government regulation.
3. No Government Intervention: Market capitalism advocates for limited government intervention in the economy, allowing businesses and individuals to make their own economic decisions.

Sample Sentences:

• Market capitalism has been the predominant economic system in many Western countries.
• In a market capitalist society, individuals have the freedom to start their own businesses and compete in the marketplace.
• Market capitalism relies on the principle of voluntary exchange between buyers and sellers.
• The proponents of market capitalism argue that it leads to innovation, economic growth, and greater individual freedom.

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