WORLD HISTORY

Detailed explanation-1: -An entrepreneur’s principal objectives are profit and growth, and they will employ formal strategic management practices to achieve them.

Detailed explanation-2: -Capitalism is built on the concepts of private property, profit motive, and market competition.

Detailed explanation-3: -One of the examples of capitalism has been the creation of mega-corporations owned by a set of private individuals and institutions. Minimal government intervention and protection of private property rights have enabled the creation of humongous companies.

Detailed explanation-4: -Pillars of capitalism Capitalism is founded on the following pillars: private property, which allows people to own tangible assets such as land and houses and intangible assets such as stocks and bonds; self-interest, through which people act in pursuit of their own good, without regard for sociopolitical pressure.

Detailed explanation-5: -Business owners often find more success in capitalistic economies because private ownership allows individuals to produce various goods or services and keep business profits for themselves.