Very short essay on Capitalistic Economy

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Consumers and producers are the two vital elements of an economy. Their economic activities may be controlled by the government or they may not be controlled. In case of capitalist economy individuals are free to own and control their economic resources. Everyone is independent to choose his own business, profession and occupation. Capitalist economy is also known as free trade economy.

Prices of the commodities are determined by free interaction of demand and supply. The government does not interfere in the determination of price. Profit motive and earning more and more income is the purpose of all economic activities. Individuals have right to earn income, acquire assets and also to retain them.

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