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All resources are privately owned and will only be used for obtaining the highest profit.
Advantages of Capitalism
There are many advantages to a Capitalist economic system which could make it very appealing to society. The system allows the powers of market forces to operate which in turn gives the consumer a wider range of goods and services. Also because producers are always seeking the highest profit they must try to please the consumer and win their custom. This leads to innovation and greater quality and variety. The firms which produce the correct goods and services will win custom and make profit, those which don't will go out of business and therefore release their resources to the successful firms...
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