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what is the most popular economic system ?

what is the most popular economic system ?

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Answer #1

The most popular economic system is the capitalist economic systems. The capitalist system is characterized by the free economic system where all decisions are taken by the demand and supply forces.

It is most popular system. It does not mean that government intervention is totally absent in the such economic system. The government makes intervention when the private system does not optimize the economic outcomes or economy is below the full employment. Financial crisis crisis of 2008 was tackled with the help of government intervention.

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