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1. Private Ownership
This means people and corporations can own land, goods, and investments. Private ownership means less government ownership and interference. It also means more power for the people.
2. Freedom to do Business for Individuals
In a capitalistic society, anyone can start a business and make decisions for that business as well as receive profits from the business.
3. Competition is Fair
Corporations and individuals can compete by waging the prices on their own goods. The free market is open for competition.
4. Political Freedom
Since there is economic freedom and people can make their own choices, the government does not control or own the right to decide on production or what the price is for goods. This creates a society which can make political decisions based on what the people want, rather than what the government controls.
5. Supply and Demand
Since the people and companies control the goods, supply and demand is controlled by what is needed and wanted by the people who purchase the goods.