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 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-3: -"Capitalism” is derived from capital, which evolved from capitale, a late Latin word based on caput, meaning “head"-which is also the origin of “chattel” and “cattle” in the sense of movable property (only much later to refer only to livestock).

Detailed explanation-4: -In a capitalist society, the bourgeoisie, or the capitalist class, is the class that owns the means of production and derives a passive income from their operation. Examples of the capitalist class include business owners, shareholders and the minority of people who own factories, machinery and lands.

Detailed explanation-5: -The main types of capitalism listed here range from those with strong government power (state-guided capitalism) to those without (laissez-faire capitalism), and from those with powerful private interests (corporate capitalism) to those with decentralised markets (entrepreneurial capitalism).