Question

capitalism In the 1980s, the leaders of the free world had faith that capitalism and a free-market economy would solve all our problems. ˈkæpɪtəˌlɪzəm

Accepted Answer

An economic system based on private ownership, private decisions, and open competition in a free market. Capital is wealth—that is, money and goods—that's used to produce more wealth. Capitalism is practiced enthusiastically by capitalists, people who use capital to increase production and make more goods and money. Capitalism works by encouraging competition in a fair and open market. Its opposite is often said to be socialism. Where a capitalist economy encourages private actions and ownership, socialism prefers public or government ownership and control of parts of the economy. In a pure capitalist system, there would be no public schools or public parks, no government programs such as Social Security and Medicare, and maybe not even any public highways or police. In a pure socialist system, there wouldn't be any private corporations. In other words, there's just about no such thing as pure capitalism or pure socialism in the modern world

word	capitalism
definition	An economic system based on private ownership, private decisions, and open competition in a free market.
eg_sentence	In the 1980s, the leaders of the free world had faith that capitalism and a free-market economy would solve all our problems.
explanation	Capital is wealth—that is, money and goods—that's used to produce more wealth. Capitalism is practiced enthusiastically by capitalists, people who use capital to increase production and make more goods and money. Capitalism works by encouraging competition in a fair and open market. Its opposite is often said to be socialism. Where a capitalist economy encourages private actions and ownership, socialism prefers public or government ownership and control of parts of the economy. In a pure capitalist system, there would be no public schools or public parks, no government programs such as Social Security and Medicare, and maybe not even any public highways or police. In a pure socialist system, there wouldn't be any private corporations. In other words, there's just about no such thing as pure capitalism or pure socialism in the modern world
IPA	ˈkæpɪtəˌlɪzəm

Capitalism Private Public Pure Ownership Open Competition Free