January 31, 2020

What is capitalism?

What Is Capitalism?
Capitalism is an financial system during which private individuals or businesses own capital goods. the assembly of products and services is predicated on supply and demand within the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.

The purest sort of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained. they'll determine where to take a position , what to supply or sell, and at which prices to exchange goods and services. The laissez-faire marketplace operates without checks or controls.

Today, most countries practice a mixed capitalist system that has a point of state regulation of business and ownership of select industries.