Economic systems (Capitalism #1)

January 20, 2007 4:04am CST
Capitalism is one of the economic system. this system have some economic benefits and some evils further more this system is sperading out through all the world now a days. This system was introduced by United state and now a days United state is trying to spread this system over the world too, In this ecomonic system all sectors of the country's are in hand of private sectors and no intervention of government, all decesion are made through price machenism (forces of free market i.e, demand and supply) Producers are free from any productive restriction they can produce anything they want or which is more profitable in the market despite of fact whether that goods are beneficial or harm full Some characteristics of capitalism 1)No intervention of government 2)Consumer is the king mean only those products are produced which is demandable 3)Products wisdom producers produce any goods 4)Better quality products, due to high competetion every producer produce better quality products for servive in the market 5)High investment in the economy 6)economy achieve optimum level of employment 7)prices of the product are set according to the demand and supply of the market 8)consumers can purchase those goods which they want such as all type of luxury goods
1 response
• India
20 Jan 07
i dont agree becoz capitalism is vanishing freom world it was prevalent in early days but its now almost gone.