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What is Capitalist Economy? Features, Merits & Demerits
A capitalist economy is a system wherein all factors of production—land, labor, capital, and entrepreneurship—are owned by the private individual…
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Difference Between Budget Set and Budget Line
Budget set and budget line are concepts that form the core of microeconomic theory, particularly consumer choice analysis. The two…
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Budget Deficit: Causes, Effects & Solutions
The budget deficit is termed that situation when a government's expenditure surpasses its revenues over a particular time, say a…
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Borrowed Funds: Features, Types & More
Borrowed funds, also referred to as debt capital, include the monies an enterprise borrows from outside sources and agrees to…
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Capital Goods: Definition, Types, and Their Economic Impact
Capital goods are an important part of any economy. It refers to the physical stock of assets that a business…