WORLD HISTORY

Detailed explanation-1: -Placing central importance on the individual, rather than the collective, is a classic hallmark of capitalism and is at the heart of the “pull yourself up by your bootstraps” narrative that capitalists find so compelling.

Detailed explanation-2: -Individuals play the role of consumer in a capitalist system. In order for the system to work consumers have to buy goods and services. If consumers stopped buying these things the capitalist systems would fail. Business would have to close, people would lose jobs, and consumers would spend less.

Detailed explanation-3: -Another major feature of capitalism is private property rights. These allow people to own and control their possessions. People even have the right to use or even abuse their property, as long as they do not interfere with the rights of others.

Detailed explanation-4: -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.