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cap·i·tal·ism

capitalism

 
 
pronunciation:
kae pih t lih zm
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part of speech: noun
definition: an economic system in which land, factories, and other resources are owned by individuals instead of the government. In this system, the prices of things we buy are decided by the people who sell them and not by the government.
Under capitalism, the rights of the individual are important.
similar words:
competition
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  economy
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