BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

Detailed explanation-2: -Mercantilism focused on political supremacy through national wealth accumulation, particularly through acquisition of precious metals, high exporting, and low importing. Capitalism is an economic system focused on building profit for private individuals and corporations via production of goods and services.

Detailed explanation-3: -The private sector consists of all privately owner, for-profit businesses in the economy. The private sector tends to make up a larger share of the economy in free market, capitalist based societies.

Detailed explanation-4: -Capitalism refers to an economic system where private businesses can have ownership of capital goods. As per capitalism meaning, individuals can privately own means of production. In capitalism, the production of products is according to the situation in the market.

Detailed explanation-5: -Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources. Left to themselves, economies tend to combine elements of both systems.