Private ownership of businesses: In a capitalist system, businesses are owned by private individuals or groups rather than the government. These businesses operate to make a profit by selling goods or services to consumers.
Competition: In capitalism, businesses compete with one another to attract customers and increase their market share. This competition can lead to lower prices and better products for consumers.
Profit motive: The main goal of businesses in a capitalist system is to make a profit. This means that they are motivated to find ways to cut costs, increase efficiency, and offer goods or services that consumers are willing to pay for.
Limited government intervention: In a capitalist system, the government generally does not interfere in the operations of businesses. It may regulate certain aspects of business activity, such as setting minimum wage levels or establishing safety standards, but it does not directly control the production or distribution of goods and services.
Individual economic freedom: In a capitalist system, individuals are free to own property and start their own businesses. They are also free to choose how to use their money and assets, and can enter into contracts with others to buy or sell goods and services.
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