AP 24.746 What is Capitalism? (1 of 2)

cap·i·tal·ism (noun)
–  an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
–  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

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AP 23.593 Enlightenment Thinker – Adam Smith and What is Laissez faire?

 


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