Capitalism
:
A system of economics based on the private ownership
of capital and production inputs, and on the production of goods and services
for profit. The production of goods and services is based on supply and demand
in the general market (market economy), rather than through central planning
(planned economy). Capitalism is generally characterized by competition between
producers. Other facets, such as the participation of government in production
and regulation, vary across models of capitalism.
0 Comments