Definition Of Capitalism Work

When a property is not privately owned but shared by the public a problem known as the tragedy of the commons can emerge. A way of organizing an economy so that the things that are used to make and transport products such as land oil factories ships etc are owned by individual people and companies rather than by the government. With a common pool resource which all people can use and none can limit.

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English language learners definition of capitalism.

Definition of capitalism work. An economic political and social system in which property business and industry are. Capitalism is an economic theory where production is privately owned and controlled by the laws of supply and demand. Befor e the industrial revolution in the 1800s countries like britain and the united states had true capitalist economies. With industrialization though came sweat shops social protest and resulting government intervention in the form of fair labor laws.

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