Question

define the term capitalism 1marks answer ​

Answer 1

Explanation:

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

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Answer 2

Answer:

Capitalism:-

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.