Definition Of Capitalism In Your Own Words

Capitalism is an economic system where private entities own the factors of production.

Definition of capitalism in your own words. The four factors are entrepreneurship capital goods natural resources and labor. An economic political and social system in which property business and industry are. The production of goods and services is based on supply and demand in the general market known as a. Capitalism is a political social and economic system that is based on the idea that individuals can own private property and operate for a profit.

The owners of capital goods natural resources and entrepreneurship exercise control through companies. Capitalism definition is an economic system characterized by private or corporate ownership of capital goods by investments that are determined by private decision and by prices production and the distribution of goods that are determined mainly by competition in a free market. 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.