18th November 2019


What exactly is capitalism?

Capitalism is the social system which now exists in all countries of the world. Under this system, the means for producing and distributing goods (the land, factories, technology, transport system etc) are owned by a small minority of people. We refer to this group of people as the capitalist class.

What are some of the basic features of capitalism?

Capitalist Economy: Meaning and Features of Capitalist Economy
  • Main Features of Capitalist Economy:
  • Capitalist economy has following main features:
  • (i) Private Property:
  • (ii) Price Mechanism:
  • (iii) Freedom of Enterprise:
  • (iv) Sovereignty of that consumer:
  • (v) Profit Motive:
  • (vi) No Government Interference:
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