Definition Of Capitalism Geography

The return of capitalism to hungary.

Definition of capitalism geography. Capitalism definition an economic system in which investment in and ownership of the means of production distribution and exchange of wealth is made and maintained chiefly by private individuals or corporations especially as contrasted to cooperatively or state owned means of wealth. Further criteria need to be added to the definition including. This chapter starts by tracing the origin of the word capitalism to works by louis blanc in the 1840s. Capitalism is an economic system in which capital goods are owned by private individuals or businesses.

A system of economics under which ownership of and investment in the means of production and distribution depends chiefly upon corporations and private individuals. Capitalism economic system dominant in the western world since the breakup of feudalism in which most means of production are privately held and production prices and incomes are determined by markets. Start studying ap human geography notes capitalism socialism communism. Capitalism refers to an economic system in which a society s means of production are held by private individuals or organizations not the government and where products prices and the distribution of goods are determined mainly by competition in a free market.

Capitalism is an economic and political system in which property business and industry are owned by private individuals and not by the state. The production of goods and services is based on supply and demand in the general market. The commonplace meanings of the term are considered noting a prevalent focus on markets and private property. Learn vocabulary terms and more with flashcards games and other study tools.