Capitalist refers to an economic system where private individuals or corporations own and control the means of production, distribution, and exchange. In this system, goods and services are produced for profit.
Related terms
Communist: Refers to an ideology advocating for the collective ownership of resources and the absence of social classes.
Free Market: An economic system characterized by minimal government interference where prices are determined by supply and demand.
Mixed Economy: A combination of both capitalist and socialist elements, where some industries are privately owned while others are controlled by the state.