Sociology / Unit 9 Soc 1530 short lesson, about 20 seconds
Capitalism
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The idea
Capitalism is an economic system with private ownership and a profit motive, where prices and wages are set through supply, demand, and competition.
In practice
Investors fund a startup, and the return on their investment, rather than central planners, decides whether the venture expands.
Where people slip
A capitalist economy still involves government regulation of wages, safety, and industry; the label does not mean zero state involvement.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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