Concept Of Capitalism

May 29th, 2016
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Hello thanks you for attempting to purchase this Note. Please note that this note is just a little summary work I did through the help of the "web" and other major books I have so please never rate this book as "Plagiarism" thank you.

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CAPITALISMCapitalism is an economic system based on private ownership of themeans of production and their operation for profit. In a capitalistmarket economy, decision-making and investment is determined by theowners of the factors of production in financial and capital markets,and prices and the distribution of goods are mainly determined bycompetition in the market. Capitalism in its purest form is a society inwhich the market sets prices for the sole purpose of profits and anyinefficiency or intervention that reduces profit making will be eliminatedby the market.CHARACTERISTICS OF CAPITALISMProfit Motive: Companies exist to make a profit. The motive forall companies is to make and sell goods and services only forprofits. Companies do not exist solely to satisfy people's needs.Even though some goods or services may satisfy needs, they willonly be available if the people

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