Capitalism
Capitalism, by definition(www.dictionary.com) is an economic system in which the means of production and distribution are privately or corporately owned and proportionate to the accumulation of profits gained in a free market. This means that business is fun by the owner with little control from the government. It is based on a lasses-faire system of leadership where the employee’s have freedom from the initiation of force in the workplace. All employers have to respect the individual rights of their employees. The idea of capitalism stemmed from Europe in the 19th century. It has several key characteristics that define it. First, basic production facilities such as land and capital are privately owned. Second, economic activity is organized and coordinated between the buyers and the sellers in markets. Third, owners of the land and capital as well as the workers they employ are free to pursue their own self interest in seeking maximum gain from their resources and labor in production. This means that consumers may spend their incomes in whatever way they wish, which is a principle called consumer sovereignty. This principle reflects the idea
Some topics in this essay:
Adam Smith’s, , economic system, adam smith’s, land capital, system based, economic system based, personal gains, free market, government regulations, services lower, idea capitalism,
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Approximate Word count = 779
Approximate Pages = 3 (250 words per page double spaced)
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