Definition Of Capitalism In Human Geography

Global capitalism is often seen in terms of impersonal forces notably market forces free trade wreaking havoc on the lives of ordinary and defenseless people and communities.

Definition of capitalism in human geography. The study of the different ways in which human societies develop and operate in relation to. Capitalism puts a high priority on the search for new opportunities to secure profit in the process reorganizing old ways of making a living. 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.

Businesses can extend their reach to everywhere around the globe profiting from cheap labor and resources. Capitalist entrepreneurs are constantly looking for new products new production processes and new marketing strategies. Global capitalism is capitalism that transcends national borders. Learn vocabulary terms and more with flashcards games and other study tools.

Capitalism is a free market system where businesses are left to pursue profits without intervention from governments. On the surface the meaning of capitalism seems straightforward referring to an economic system in which private individuals rather than governments own property and businesses. Capitalism is a highly dynamic system. It is not coincidental that interest in economic globalization has been accompanied by an upsurge in what has come to be known as new social movements nsm research.