An economic system where private ownership, profit moti ve, and market competition play central roles, facilitating individual and corporate economic gain.
Economic freedom refers to the absence of regulation or other dictates from government or other authority in economic matters, enabling efficient allocation of resources in a capitalist system.
The basic means of achieving economic goals inherent in the economic structure of a society. Major economic systems include capitalism, fascism, socialism, and communism.
An emerging market refers to a foreign economy that is developing due to the spread of capitalism and has created its own stock market. These markets are analogous to small growth companies, possessing high potential coupled with high risk.
Free Enterprise refers to the economic system wherein businesses are allowed to operate with minimal government intervention, guided primarily by the forces of supply and demand.
A managed economy is one in which the government intervenes extensively to direct economic activity. Such intervention is characteristic of socialist and communist economies, in stark contrast to capitalist economies where market forces predominantly guide economic activity.
A market economy is an economic system in which the production and prices of goods and services are determined by competition among privately owned businesses.
A price system is an economic mechanism in which market-determined prices guide the allocation of resources, typically seen in capitalist economies.
The working class or those who must support themselves through physical labor; in Marxist economic theory, the proletariat are exploited by the owners of capital, who benefit from the value produced by labor.
Property rights refer to the legal rights to the ownership, use, and transfer of land, capital, and other goods. They are an essential element of the capitalist system and form the foundation for private ownership and profitability.
In Marxist theory, the large number of unemployed whose existence assures that wages will be kept at minimum levels.
In Marxist theory, surplus value represents the excess value produced by labor over the wage paid to laborers, considered a primary source of capitalist profit.
