Definition Of Capitalism Simple

Capitalism is an economic and social system based on the fact that the means of production must be privately owned the market serves as a mechanism to allocate scarce resources efficiently and capital serves as a source of wealth.

Definition of capitalism simple. Most property for example is owned by people or companies not by the government or by the workers. 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. An economic political and social system in which property business and industry are. In it the government plays a secondary role.

Goods are usually made by companies and sold for profit. The return of capitalism to hungary. Capitalism has a more or less free market economy which means that prices move. Private enterprise free enterprise private ownership laissez faire or laisser faire more synonyms of capitalism.

People and companies make most of the decisions and own most of the property.