Word
capitalism
Meanings
An economic system in which most property and businesses are privately owned and goods and services are produced and sold for profit in markets.
The ideas and practices that support private ownership, competition, investment, and profit as central parts of the economy.
Definition
Capitalism is an economic system where most businesses and property are privately owned and goods are produced and sold for profit.
Capitalism is an economic system in which individuals and companies own most property and run businesses. Prices and production are largely guided by supply and demand in markets. People can compete, invest, and keep profits, while governments usually set rules and collect taxes.
Examples
- Many people debate whether capitalism reduces or increases inequality.
- She studied capitalism in her economics class.
- Capitalism encourages competition between companies.
- Some critics argue that capitalism can harm the environment without strong rules.
- After the reforms, the country moved toward capitalism.