Explain the important features of market economy.

Entrepreneurship plays a pivotal role in fostering rural development within the framework of a market economy. A market economy, also known as a free-market economy, is characterized by the decentralized exchange of goods and services driven by supply and demand forces. Several key features distinguish a market economy, and understanding these features is essential to comprehend how entrepreneurship contributes to rural development within this economic system.

1. Private Ownership: In a market economy, most resources and means of production are privately owned. This encourages entrepreneurship as individuals have ________ __________ _____ _______ _________ __________ ________ _______.
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