WORLD HISTORY

Detailed explanation-1: -Without private property rights, an economic system cannot be termed capitalistic. This is a core theme of capitalism meaning. In capitalism, private individuals may claim ownership. This is possible by a mixture of unclaimed resources and labor.

Detailed explanation-2: -Key Takeaways. The primary difference between capitalism and communism emerges from the ownership of factors of production. In capitalism, it is owned by individuals, whereas in a communist nation, the ownership lies in the hands of the government.

Detailed explanation-3: -capitalism requires private ownership of the major means of production. Correct Answer: capitalism requires private ownership of the major means of production.

Detailed explanation-4: -The private property that Marx is talking about is private ownership of things like factories, banks, and railroads, which allow their owners to make money from the work of other people.

Detailed explanation-5: -Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor.