Question

What do you understand by capitalism ? how did it contribute to the growth of towns ansd

cities? short answer​

Answer 1

Capitalism is 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.

Capitalism grew out of European feudalism. Up until the 12th century, less than 5% of the population of Europe lived in towns. ... The advent of true wages offered by the trades encouraged more people to move into towns where they could get money rather than subsistence in exchange for labor.

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