Capitalism Flashcards
1
Q
Capitalism
A
Production for profit by private entity
• A mode of production in which means of production ( land, equipment, technology, capital, entrepreneurship) are owned by very small section of propertied class who purchase wage labour from vast majority of property less class
• Capital(Money) - buys-> Means of Production & Labour - to Produce ->
Product/Service - to sell for->Money+1 (Profit)
