A system in which economic activity is structured to allow private firms to make most or all of the decisions involving production and distribution of goods and services is best described as

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Capitalism is a system in which private firms have control over the production and distribution of goods and services. It is characterized by a free market and competition, with individuals making choices based on their self-interest. The government's role in capitalism is typically limited to regulating the market and ensuring fair play among businesses.

A System in Which Economic Activity Is Structured to Allow