USA HISTORY

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: -What Does Free Market Capitalism Mean? Any economy is capitalist as long as private individuals control the factors of production. A purely capitalist economy is also a free market economy, meaning the law of supply and demand, rather than a central government, regulates production, labor, and the marketplace.

Detailed explanation-3: -Capitalism. Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.

Detailed explanation-4: -These include laissez-faire or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism.

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.