Capitalism

Capitalism
Definition
Economy system
Private people
Private companies
Business
Production
Profit
Popular system
Free market economy
Features
Private household (demand side)
Offer job
Need goods
Companies (supply side)
Goods
Services
Market
Exchange goods
Services
Jobs
Prices
Supply
Demand
Competition
- cheapest price
+ pay worker
How gov. regulate economy
Through competition
Low price
No monopoly
No abusive taking over
Respect
Moral
Environment
Stabilize business cycle
Help poorest
Social market economy
History
Became important 15-16th
International market
Industrial revolution
Adam Smith
Trade union
Work too much
Earn too less
Need to protect workers
19th
Socialism
Karl Marx
Communism
1930 - great depression
Lost trust in capitalism
Gov. need fight depression
Keynes theory
Today system
Public company
Private company
Gov. control
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