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Isabel V Capitalism

Capitalism is an economic system characterized by private ownership of trade and industries that produce goods and services for profit. It creates competition amongst privately owned companies that set their own prices. While western nations primarily operate under capitalism, developing countries also aim to emulate it. However, there are different variations of capitalism depending on a country's government involvement, politics, existing economic conditions, and social values. Capitalism plays an important role in the interactions between industries, companies, and consumers, and influences business strategies for growth. It is integral to a country's productivity and prosperity.

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113 views1 page

Isabel V Capitalism

Capitalism is an economic system characterized by private ownership of trade and industries that produce goods and services for profit. It creates competition amongst privately owned companies that set their own prices. While western nations primarily operate under capitalism, developing countries also aim to emulate it. However, there are different variations of capitalism depending on a country's government involvement, politics, existing economic conditions, and social values. Capitalism plays an important role in the interactions between industries, companies, and consumers, and influences business strategies for growth. It is integral to a country's productivity and prosperity.

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isgigles157
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Isabel Vordzorgbe

BUSI 758K
Prof. Kirsch
1/5/2015
What is Capitalism?
Capitalism by definition is one of the most prominent economic systems
within the modern world. It is a system characterized by trade and various
industries that interact to produce goods and services for profit. Capitalism is what
the western world is known for and what emerging markets within developing
nations such as China, India, Brazil, and others are trying to emulate. With
capitalism, competition is created amongst various companies and these same
privately owned companies set prices for the goods and services they offer. Note,
however, that capitalism isnt just capitalism. There are different types of capitalism
depending on the level of involvement from the government, political pressures,
native economic conditions, and society in general.
Capitalism plays a very important role in the interactions between industries
and companies as well as between companies and the consumers they serve. I
believe that capitalism is also a way of thinking about business that translates into
how various companies decide on strategies for growth, acquisition, expansion, etc.
Without capitalism and its invisible ties within the day to day transactions and
decisions made by people and firms, the country could not be as productive or
prosperous as it is. Capitalism is the backbone of the things we see created in the
modern world.

I pledge on my honor that I have not given or received any unauthorized assistance
on this assignment.

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