noun Download 🔗Share A socio-economic system based on private ownership of resources or capital. Examples : "In a system of capitalism, individuals can start their own businesses and own the buildings and equipment they use to make money. " politics economy business philosophy society government doctrine system organization finance state Chat with AIVocabulary GamePractice Reading
noun Download 🔗Share An economic system based on private ownership of the means of production and their operation for profit. Examples : "The bakery's success in the local market is a good example of capitalism in action. " economy business politics government finance society Chat with AIVocabulary GamePractice Reading
noun Download 🔗Share (economic liberalism) A socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state. Examples : "In a system of capitalism, entrepreneurs can start their own businesses and compete with others in the market. " politics economy business system government philosophy society finance property law value history organization Chat with AIVocabulary GamePractice Reading
noun Download 🔗Share (economic liberalism) An economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state. Examples : "The school's new initiative to offer after-school tutoring programs is a good example of capitalism in action, as private companies are providing the service for a profit. " economy politics business philosophy doctrine system government finance state property value organization society commerce theory Chat with AIVocabulary GamePractice Reading
