Answer :
Capitalism is an economic system in which the means of productive activities are privately owned
Capitalism is an economic system in which the means of production, such as businesses and factories, are privately owned and operated for profit. The market, not the government, is the main mechanism for resource allocation in capitalism. A capitalist's job is to determine the prices for his goods and services.
Commodity sales are open to competition between businesses, and supply and demand determine pricing. Businesses exist to make a profit, and consumers determine what is produced by the products they choose to buy. The foundation of this economic system is based on the rights of the individual and the ownership of private property.
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