Question

What do you understand by 'capitalism'? [3 Marks] Please Answer Fast, its urgent!!

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.

Explanation:

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Answer 2

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

Explanation: done