Establish positions on capitalism and socialism using reasons and evidence is the prompt to ask the writer to do.
What is capitalism?
In a capitalist economy, private people or companies own the capital assets. The labor force, which does not own the means of production but merely uses them on behalf of the capital owners, is employed by business owners (capitalists).
Capitalism relies on supply and demand in the open market, also known as a market economy, as opposed to centralized planning, also known as a planned economy or command economy, for the creation of goods and services.
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