Capitalism

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Capitalism

Ved L N

microeconomics

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Copy of the Accounting G11: Chapter 1 Concept Map

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Ideologies

Ved José Luis

Oxford Languages and Google - English | Oxford Languages. (2024, 16 enero). https://languages.oup.com/google-dictionary-en/

Britannica, T. Editors of Encyclopaedia (2025, March 15). supply and demand. Encyclopedia Britannica. https://www.britannica.com/money/supply-and-demand

An economic system in which there is private owner- ship of natural resources and capital goods.

Capitalism

Examples

United States, Colombia, Austria.

Market Role

Free markets with minimal regulation

Goverments role is limited (The government does not interfere much in economic activities)

Economic Incentives

Profit motive

"the desire for financial gain as an incentive in economic activity." (Oxford Languages And Google - English | Oxford Languages, 2024)

Decision making

Market-driven decisions

Supply - Demand dynamic

It is "relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. " (Britannica Money, 2025)

Ownership

Private ownership of resources