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Major Types Of Economic System - Education - Nairaland

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Major Types Of Economic System by Legitbuck: 1:32pm On Mar 11, 2019
Major types of economic system

Capitalist or freemarket economy

Capitalist or freemarket economy may be defined as the type of economic system in which the means of production are owned and controlled by private individuals.

Examples of countries which practice capitalism include USA, Japan, Australia, France and Italy etc.

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