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Questions and Answers
What is the mainstay of capitalism?
What is the driving force of capitalism?
In a capitalist economy, who determines economic activity?
Which of the following is a characteristic of a capitalist economy?
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Which countries exemplify some features of a capitalist economy?
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Study Notes
Characteristics of Capitalism
- The mainstay of capitalism is private ownership of the means of production and creation of goods and services for profit.
- The driving force of capitalism is the pursuit of profit.
Economic Decision-Making in Capitalism
- In a capitalist economy, individuals and firms, rather than the government, determine economic activity.
Characteristics of a Capitalist Economy
- A characteristic of a capitalist economy is the creation of goods and services for profit.
Examples of Capitalist Economies
- Countries that exemplify some features of a capitalist economy include the United States, Canada, and the United Kingdom.
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Description
Test your knowledge about capitalism with this quiz! Explore the fundamental principles of this economic system, such as private property, profit motive, and the role of consumers and businesses. See how much you know about the predominant economic system in the modern global economy.
