Business English Words – Capitalism (Vocabulary Video)

Business English Words – Capitalism (Vocabulary Video)


Capitalism a system of economics based on private possession
of property and business In capitalism, private groups or individuals
manage a country’s trade and industries. For example. Under the system of capitalism,
just a few companies control access to cable television. Socialism differs from capitalism because
in socialism the government controls industry and production. Capitalism is one of the reasons prices are
so high on service plans for cable and mobile phones. As buyers, we can complain about prices,
but in capitalism the one who controls the goods and services is the one who sets the
cost.

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