How would a capitalist system differ

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Q. Assume that y are thinking of each specializing completely in area in which y have a comparative advantage and n trading at a rate of 2.5 pounds of potatoes for 1 chicken, would y each be better off? Elucidate.

Q. In contrast to a socialist economic organization, how would a capitalist system differ? Consider who owns capital (means of production) in two models.

Reference no: EM1367923

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