Q:

What is capitalism, in layman's terms

Answer

Capitalism is a system with a free market for goods and services and private control of production and consumption. As opposed to to cooperatively or state-owned wealth as in communism. Thanks for using ChaCha!

Categorized In: Definitions

Source: capitalism definition | Dictionary.com | dictionary.reference.com

Description: capitalism An economic and political system characterized by a free market for goods and services and private control of production and consumption.

Nov 04, 11:18pm

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