Freely adjusting prices,profits,and private property are most closely associated with

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Freely adjusting prices, profits, and private property rights are fundamental features of capitalism. In capitalism, the market forces of supply and demand determine prices and the allocation of resources. Businesses seek to maximize profits, and individuals have the right to own property and use it as they see fit. Centralized planning is typically associated with command economies, while decentralized socialism implies the collective ownership of resources and the absence of private property rights. A traditional economy relies on custom and tradition to allocate resources and is typically associated with agricultural and rural societies.

Freely Adjusting Prices,profits,and Private Property Are Most Closely Associated with