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What is problem recognition?
Economic Reforms
Refers to changes implemented to improve an economy by modifying policies, regulations, and institutions.
Market Oriented Economy
An economic system where decisions on production and consumption of goods and services are based on voluntary exchange in markets, with minimal government intervention.
State Would Wither Away
A Marxist theory suggesting that after the establishment of a classless society, the need for a government or state will diminish and eventually disappear.
Capitalists
Individuals or entities that own capital goods or investments and use them to generate wealth through production, distribution, and the sale of goods and services.
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