Words / B1

KAP-it-uh-liz-uh-m/ˈkæpɪtəlɪzəm/

Capitalism is an economic system based mainly on private ownership and markets. Capitalist can be the adjective or a person. A mixed economy combines markets and public services — a common UK essay point. Socialism / communism appear as contrasts in exams. Uncountable. Do not use capitalism as a vague insult; define it.

Meaning

An economic system in which trade and industry are mainly privately owned.

Examples

• “The essay compared capitalism with a mixed economy.”
• “Critics argued that capitalism had delivered growth but not affordable housing.”

Good to know

Uncountable: capitalism. Person/adjective: capitalist. UK essays: mixed economy. Contrast systems if the question asks.

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