Asked by Martevus Blount on Jul 08, 2024
Verified
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.
Verified Answer
Learning Objectives
- Recognize the principles and structure of the private enterprise system and capitalism.
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