True. Capitalism is an economic system that is based on the principles of private ownership of the means of production and the individual's freedom to make economic decisions. It relies on the interaction of consumers and privately owned businesses in the market to determine prices, production, and distribution of goods and services.
True. Capitalism is an economic system characterized by private ownership of businesses and the means of production. In this system, consumers have the freedom to make independent decisions about what goods and services to buy, and privately owned businesses compete to produce and sell these goods and services.
True. Capitalism is a market system that relies upon the independent decisions of millions of consumers and privately owned businesses. In a capitalist economy, individuals and businesses have the freedom to make their own decisions regarding production, consumption, and investment. Consumers decide what goods and services they want to purchase, and businesses make decisions about what products to produce, how much to produce, and at what price to sell them. The government's role is minimal, mostly focusing on enforcing laws and regulations to ensure fair competition and protect consumers.
