what is capitalism and its aspects?
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Capitalism is a system of economic production whereby business owners (capitalists) acquire the means of production (capital) and hire workers who get paid for their labor. Capitalism is defined by private property rights, capital accumulation and re-investment, free markets, and competition.
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Capitalism is a widely adopted economic system in which there is private ownership of the means of production. Modern capitalist systems usually include a market-oriented economy, in which the production and pricing of goods, as well as the income of individuals, are dictated to a greater extent by market forces resulting from interactions between private businesses and individuals than by central planning undertaken by a government or local institution. Capitalism is built on the concepts of private property, profit motive, and market competition.
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