WORLD HISTORY

Detailed explanation-1: -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-2: -Capitalism, also called a free enterprise system, is based on private ownership and on individual economic freedom.

Detailed explanation-3: -Capitalism is a type of economic system in which trade and industry are driven by private owners and the individual rather than the government. Voluntary trade dominates, with resources vying to snag consumers and consumers vying with each other for resources.

Detailed explanation-4: -A command economy is an economic system where the government has control over the production and pricing of goods and services.