Asked by Martevus Blount on Jul 08, 2024

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Capitalism is another name for the private enterprise system.

Capitalism

Capitalism is an economic system characterized by private ownership of the means of production, market-based allocation of resources, and the creation of goods and services for profit.

Private Enterprise System

An economic system where private individuals or businesses own capital goods and the production of goods and services is based on supply and demand in the general market.

  • Recognize the principles and structure of the private enterprise system and capitalism.
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SS
Simran SharmaJul 11, 2024
Final Answer :
True
Explanation :
Capitalism is an economic system characterized by private ownership of the means of production and their operation for profit, which aligns with the definition of the private enterprise system.