make the definition SIMPLE.
2006-10-05 16:19:32 · 7 answers · asked by Anonymous in Education & Reference ➔ Homework Help
an economic system based on private ownership of capital
2006-10-05 16:23:34 · answer #1 · answered by becca W 1 · 1⤊ 0⤋
Capitalism is an economic system in which the means of production are mostly privately owned, and capital is invested in the production, distribution and other trade of goods and services, for profit in a competitive free market. These include factors of production such as land and other natural resources, labor and capital goods. Various theories have tried to explain what capitalism is, to justify, or critique the private ownership of capital, and to explain the operation of markets and guide the application or elimination of government regulation of property and markets.
2006-10-05 23:25:42 · answer #2 · answered by avalentin911 2 · 1⤊ 0⤋
Slavery to the Corporate Master
2006-10-05 23:27:02 · answer #3 · answered by Anonymous · 1⤊ 1⤋
A socioeconomic structure wherein one can choose to accumulate as much capital as he can according to his ability and the resouces available to him.
2006-10-05 23:28:41 · answer #4 · answered by syrious 5 · 0⤊ 0⤋
go to http://en.wikipedia.org/wiki/Capitalism....the meaning there is definitely simple...
2006-10-05 23:24:44 · answer #5 · answered by j6shawie26 3 · 0⤊ 1⤋
a market economy
2006-10-05 23:22:18 · answer #6 · answered by Bamos 3 · 0⤊ 0⤋
freedom
2006-10-05 23:21:37 · answer #7 · answered by Anonymous · 0⤊ 1⤋