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Private property rights and decentralized decision making are primary characteristics of which type of economic system?

User Rkatkam
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Final answer:

Private property rights and decentralized decision making are primary characteristics of a market economy or a capitalist economy.

Step-by-step explanation:

Private property rights and decentralized decision making are primary characteristics of a market economy or a capitalist economy. In a market economy, individuals and firms have private ownership of resources, allowing them to make decisions about what to produce and coordinating through markets.

Governments in a market economy have limited roles, usually focused on enforcing private property rights.

User Svarrall
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