Capitalism is an economic system in which there is

Question

Quizplus · Accepted Answer

Capitalism is characterized by the private ownership of property and the means of production. This allows individuals and businesses to make decisions based on their own self-interest and to compete for profits in the market. Government control of production or pursuit of collective interests are not fundamental characteristics of capitalism. Additionally, wage labor is not abolished in capitalism, as workers sell their labor in exchange for wages.

Capitalism Is an Economic System in Which There Is