Question

what do you mean by capitalism​

Answer 1

Answer:

Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.

Answer 2

An economic system based on private ownership of the means of production and their use for profit is known as capitalism. Capital accumulation, competitive markets, the pricing system, private property, the recognition of property rights, voluntary exchange, and wage labour are key aspects of capitalism.

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