|
|
- pronunciation:
- kae
pih
t
lih
zm
- features:
- Word Combinations (noun), Word Explorer, Word Parts
| part of speech: |
noun |
| definition: |
an economic system in which the means of production and distribution are privately owned and prices are chiefly determined by open competition in a free market.
The individual's right to pursue material wealth with little interference from government is considered one of the tenets of capitalism.- similar words:
- competition, free enterprise, free market, laissez faire
|
| contrasting words: |
communism, feudalism, socialism |
|
|
|
|
|
|