capitalism

capitalism definition - business

capitalism

An economic system that is based on private ownership of the means of production and distribution. Prices for goods and services are determined by the free market, and businesses are operated for the economic gain of the owners.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.
Related Discussions (1)
TopicRepliesLatest Post
capitalism96 years ago

Browse Forums