What are the main features of a free market capitalist economy?

The main features of a free market capitalist economy are:

1. Private ownership: In a free market capitalist economy, individuals and businesses have the right to own and control property, resources, and means of production.

2. Market competition: The economy operates based on competition among businesses, which leads to innovation, efficiency, and lower prices for consumers.

3. Profit motive: The primary goal of businesses and individuals is to maximize profits. This drives investment, entrepreneurship, and economic growth.

4. Price determination: Prices of goods and services are determined by the forces of supply and demand in the market, rather than being set by the government.

5. Limited government intervention: The government's role is generally limited to enforcing property rights, contracts, and ensuring fair competition. It does not heavily regulate or control the economy.

6. Freedom of choice: Individuals have the freedom to choose what to produce, consume, and invest in, based on their own preferences and self-interest.

7. Economic efficiency: Free market capitalism aims to allocate resources efficiently through the price mechanism, where goods and services are produced and distributed based on consumer demand.

8. Economic inequality: Free market capitalism can lead to income and wealth disparities, as success and failure are determined by individual efforts and market outcomes.

9. Voluntary exchange: Transactions in a free market capitalist economy are based on voluntary agreements between buyers and sellers, without coercion or force.

10. Economic growth: Free market capitalism has historically been associated with higher levels of economic growth and prosperity, as it encourages investment, innovation, and productivity improvements.