Question

. Define the term capitalism.​

Answer 1

Answer:

Capitalism is an economic system in which private individuals or businesses own capital goods. ... They may determine where to invest, what to produce or sell, and at which prices to exchange goods and services.

Answer 2

Answer:

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 labour.

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