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Capitalist and socialist economic systems represent two distinct approaches to organizing production, distribution, and ownership of resources in society. In a capitalist system, the means of production, such as land, factories, and capital, are privately owned by individuals or corporations. The allocation of resources is guided primarily by market forces, including supply, _________ ____ ___ ______ _____ ______ _____ _______ ___ _____ __________.
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