Capitalism Vs Socialism Economics Help from www.economicshelp.org
Central characteristics of capitalism include capital accumulation competitive markets a price system private property and the recognition of property rights voluntary exchange and wage labor.
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Crony capitalism is a term describing an economy in which success in business depends on close relationships between business people and government officials. There are many synonyms of Capitalism which include Commercialism Competition Democracy Industrialism Mercantilism Free Enterprise Free Market Laissez Faire Economics etc.
