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In this detailed lecture, Mr. Chhatrapal Jangid, Expert Faculty at Drishti IAS, explains the working of a capitalist economy and its impact on modern societies. A capitalist economy is characterized by private ownership of resources and the means of production, where the government has a limited role. In this video we delve into the principles of capitalism, including market forces, competition, and profit maximization, offering a clear understanding of how capitalist systems function.

Key Concepts Covered:

What is a Capitalist Economy?: A detailed explanation of capitalism and its core principles.
How Capitalism Works: Understanding the mechanisms of supply and demand, private ownership, and market-driven economy.
Advantages and Disadvantages: Examining the benefits and challenges of capitalism, including economic growth, inequality, and social welfare.
Role of Government in Capitalism: Analyzing the limited role of the government in regulating markets and ensuring competition.

This lecture is essential for MPPSC aspirants who need a strong grasp of economic concepts, especially for General Studies, and its relevance to governance and public policy. Like, share, and subscribe for more MPPSC-focused content from Drishti MPPSC.

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