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WordNet-Online
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Definitions from the WebCapitalismDefinition:Capitalism refers to an economic system in which individuals and businesses own and operate the means of production, with the goal of generating profits. In this system, the prices of goods and services are determined by supply and demand, and the distribution of wealth is driven by market forces. Part of Speech: NounSense 1:A political and economic system based on private ownership of capital goods and the means of production, characterized by the principles of competition, profit motive, and free market. Example sentence: The success of capitalism lies in its ability to incentivize innovation and productivity through competition. Sense 2:A social and economic ideology prioritizing individual freedom, private enterprise, and voluntary exchange as the driving forces of the economy. Example sentence: Capitalism encourages individuals to pursue their entrepreneurial ambitions and reap the rewards of their hard work. Sense 3:Capitalism is often contrasted with other economic systems, such as socialism, as it promotes private ownership and decentralization of resources. Example sentence: Some argue that capitalism allows for greater economic growth and efficiency compared to alternative economic models. Related Products: | ||||
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