Capitalism is an economic system characterized by the private ownership of wealth-creating assets, free markets, and freedom of contract. It is not a political theory developed by Karl Marx, nor is it incompatible with property rights. The name does not refer to the centralization of economic power in a specific city. While there may be differing opinions on capitalism, it is generally not considered unpopular in the United States.

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Capitalism Is

Question 42

Multiple Choice

Capitalism is

A) a political theory developed by Karl Marx.
B) an economic system marked by the private ownership of wealth-creating assets, free markets, and freedom of contract.
C) incompatible with property rights as a wealth-creating mechanism.
D) Named for the centralization of economic power in the capitol city.
E) unpopular in the United States.

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