capitalism
Pronunciation: [ˈkæpɪtəlɪzəm]
Word
Context: “economics”
(noun) an economic system where people can own businesses and property and make money by selling goods and services. In capitalism, people have the freedom to decide what to sell and who to sell it to.
Example
In a capitalist society, new ideas can lead to great businesses and jobs.
Example
Some believe that capitalism can create unfairness between rich and poor people.
Example
What are the main benefits of capitalism for small business owners?
Context: “politics”
(noun) a way of organizing a country's economy that allows private ownership and encourages competition. In this system, government plays a limited role in business.
Example
Many countries follow a capitalist model to encourage innovation and growth.
Example
Critics argue that capitalism can lead to environmental harm if not regulated properly.
Example
How does capitalism differ from socialism in running an economy?
0s0s