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Capitalism. Essay sample

 

The first thing to do when you are working on the issue of capitalism is to provide the definition of this term. Thus, capitalism presupposes that private ownership of capital as well as production inputs is the basis for this system of economics. What is more, production of goods and services is done for profit.

The market economy is prevailing which presupposes that the production of goods and services is obviously based on supply and demand. As a result, it creates competition between various producers of services and goods. What is necessary to mention is that the participation of government in the whole regulation and production may vary depending on a particular type of the capitalism model used in a country.

Probably, you are familiar with the fact that capitalism model of economics has become the dominant one in the majority of developed countries. The notion of economic growth is quite often used when the issue under consideration is capitalism. The thing is that market economy contributes greatly to economic growth. Find out more about capitalism here …