Capitalism Definition Us History Quizlet

Capitalism definition an economic system in which investment in and ownership of the means of production distribution and exchange of wealth is made and maintained chiefly by private individuals or corporations especially as contrasted to cooperatively or state owned means of wealth.

Capitalism definition us history quizlet. This makes goods cheaper and more accessible in the short run but over time it depletes natural resources lowers the quality of life in the affected areas and increases costs for everyone. Capitalism ignores external costs such as pollution and climate change. How to use capitalism in a sentence. Capitalism economic system dominant in the western world since the breakup of feudalism in which most means of production are privately held and production prices and incomes are determined by markets.

Choose from 500 different sets of capitalism us history flashcards on quizlet. Under capitalism individuals own the means of production. Learn more about the history and development of capitalism in this article. Capitalism is private ownership and use of your capital.

Means of production are factories railroads mines shipping lines banks etc. Print capitalism so let s review the situation up to this point. An economic political and social system in which property business and industry are. The answers to these questions can help explain so much of what it means to live in the united states.

People are becoming more literate and reading newspapers on a daily basis in order to share information. The history of capitalism is diverse and has many debated roots but fully fledged capitalism is generally thought by scholars specify weasel words to have emerged in northwestern europe especially in great britain and the netherlands in the 16th to 17th centuries. Learn capitalism us history with free interactive flashcards.