Captalistic economy system

in Project HOPE7 months ago

Hello everyone I hope you all are fine and safe from the coronavirus outbreak .
Today i will tell you about the economy system. what are features of captalistic economy system. Also marits and demerits.

capitalism economy system

The economic system in which each individual in his capacity as a consumer,producer ,and resource owner is engaged in economic activities with a large measure of economic freedom. individuals have the freedom to choose any occpation,and to buy and sell any number of goods and services. As in captalistic economic there is only one person which owns all the business and he also gets all the frofit . I think captalistic economic is good for business mens.

capitalism-concept-coin-stack-on-600w-1189631503.jpg

Features of capitalism

  1. Right of private property is an important part of capitalism.it includes three things

a) every individual has the right to accumulate property.

b) An individual is free to use his property according to his will.

c) After the death of an individual his property goes to his successors.that is right of inheritance.

2)profit motive: In capitalism each entrepreneur uses his resources in the production of those goods and services from which they have the chances of earning more profits.self interested and private profit dynamics the capitalistic economy.

3)price machanism operates automatically without any direction and control by the central authorities.it is the consumer's choice which determine what to produce,how much to produce,and how to produce.

4)in capitalist economy people have freedom of consumption.they can spend their income on the consumption acc. To their choice.

5)there is free choice if occupation for an entrepreneur, a capitalist, and a labourer.but this freedom is subject. To their ability and training, legal restriction,and existing market conditions .

6)competition is one of the most important feature of capitalist economy. It implies the existence of large number of buyers and sellers in the market.

stock-market-forex-trading-graph-600w-1021964980.webp

Merits
There are some merits of captalistic economy system Increase in production, quality products at low costs,progress and prosperity, maximizes welfare,optimum use of resources, flexibility system are in the favour of capitalism.

Demerits
The captalistic economic system causes unemployment which is one of the basic demarit of that. Also there occurs inequality. Non utilization of resources.

Thanks for reading

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Thank you for this blog and as I always say, capitalism is not the best system but it is the best we found yet.

It aligns the most with our human nature.

Communism, Dictatorial, Socialism regimes usually "underperforms" a capitalist system in terms of average wealth, health, technology, etc...

Yes you are right

Resteemed already. Upvote on the way :)

Thanks for resteem

@tipu curate

Upvoted 👌 (Mana: 24/30)

Thank's for upvote

Islamic economic system is best alternative of all systems

How is it so?

Because its based on equality, justice, and with proven historical background

You can search about that on Google or YouTube by yourself self

I can search about anything. Nowadays can you give me one of this economic system that is currently thriving ? Because apart from Petro-Monarchies (that are quite different from a normal economy) I don't see any.

Equality in such societies? I guess when you are a muslim man it works.
Try as a woman, gay or jew/christian :).

It works for everyone and everywhere please don't made a judgment before studying completely about Islam economics and banking system and his history

It works for everyone and everywhere

Well nothing works for everyone and everywhere...

You just didn't give a single argument / fact.

I would much rather live in a Danish Socialism Society than what the Americans are doing in generelt, but also right now. We has a Socialism Society is much better at surviving a pandemic

Not the case for Venezuela.
France, Italy and Spain are quite socialist society compared to South-Korea, Japan or Singapore.

I believe the divide on this pandemic is more on culture Asian/Western.

But that is just a thought 😃

Maybe not for Venezuela true xD

And what do you mean with divide? I dont understand that xD

Which country responded quickly, well and in an effective manner preventing many deaths?

Japan/SK/Singapore and one could almost say China once they decided to see the issue and stopped hiding it.

France, Italy, Spain, USA did not react neither quickly, well and in an effective manner.

But one could argue that Germany did react as Asian countries so maybe it just depends on our leaders who are mostly shitty in the West haha

Denmark responded quickly aswell :D
We only have around 10k with Corona and we are slowly reopening again now. I know we are a small country. But Sweden had 5 times as many death as Denmark with double the amount of people with Corona and Sweden is "only" double as big as Denmark looking at population :D