4 PPT- Capitalism.pptx - CAPITALISM FREE ENTERPRISE MARKET ECONOMY What is Capitalism The United States was built largely on free markets and private

4 PPT- Capitalism.pptx - CAPITALISM FREE ENTERPRISE MARKET...

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CAPITALISM , FREE ENTERPRISE, & MARKET ECONOMY
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What is Capitalism? The United States was built largely on free markets and private ownership called Capitalism Capitalism : an economic system in which private citizens own and use the factors of production in order to seek a profit
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Free Enterprise Free Enterprise or Market Economy is another term used to describe the American economy In a free enterprise economy, competition is allowed to flourish with minimum government interference
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The Spread of Capitalism Two important concepts that laid the foundation for the market system that is the base of capitalism 1. The idea that people could work for economic gain 2. The idea that the government should have a very limited role in the economy
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The Spread of Capitalism continued… Laissez-faire Economics- French term that means “to let alone” Government should not interfere in the marketplace
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What makes capitalism work?
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