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Capitalism
Capitalism
is an
economic system
based on
private ownership
of the
means of production
and the creation of
goods and services
for
profit
. Central characteristics of capitalism include
private property
,
capital accumulation
,
wage labour
and
competitive markets
. In a capitalist
market economy
, investments are determined by private decision and the parties to a transaction typically determine the prices at which they
exchange
assets, goods, and services.
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