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You are here: Home / Potpourri / Economics 101: Capitalism

Economics 101: Capitalism

Economics 101: Capitalism

[This is part of the series: The Complete Guide To Economics 101.]

What is capitalism?

Capitalism is an economic system based on private property rights.

This is where individuals decide how to produce, what to produce, and whom to produce for.

This interaction of free individuals takes place in a market where each individual pursues their own self-interest.

Under capitalism, economic goods are rationed by prices.

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Filed Under: PotpourriTagged With: #Economics101

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