Examlex
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Private Sector
The part of an economy that is run by individuals and companies for profit, as opposed to being controlled by the government.
Market Oriented
An economic system or approach that prioritizes supply and demand as the primary forces in the market, promoting free competition among businesses.
Pure Capitalist Economy
An economic system characterized by private ownership of the means of production and the absence of government intervention in the market.
Price Mechanism
The process through which market prices adjust to balance supply and demand, allocating resources efficiently.
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