Explain the difference between capitalism and a market economy

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Adison Bryan

21 January, 00:53

Explain the difference between capitalism and a market economy

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Skylar Hinton · Answer 1

Although the two economic systems are based on the law of supply and demand, these systems are different. Capitalism is an economic system based on ownership of the factors of production ... On the other hand, a private owner in a capitalist system can have a monopoly on the market and prevent free competition.