Briefly explain the concept of capitalism using clear examples?
Wednesday, February 22, 2023
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Question: Briefly explain the concept of capitalism using clear examples?
Capitalism is an economic system where private individuals or businesses own the means of production and distribution, and the production and distribution of goods and services are driven by profit. In a capitalist system, prices are determined by supply and demand, and individuals and businesses are free to pursue their own self-interest in the pursuit of profit. Examples of capitalism include the stock market, where investors can buy and sell shares of publicly traded companies, and businesses such as Apple, which produce and sell products for profit.
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