Question

Define capitalism. what factor determines whether a country’s economy is more or less capitalist?

Answer 1

Capitalism is the use of private resources to make a profit. Whether a country is more or less capitalistic is determined by the amount of government influence in answering the basic economic questions.

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Answer 2

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Step-by-step explanation:

Capitalist economies are those where there is a free market: free flow of economic capital.

The decision-makers and investment can move freely , and the prices and distributions of goods and services are in a continuous exchange as the market dictates.

The market is not restrained by governments or other agencies, so it is said to freely operate in terms of demand and offer.

Most of the countries today are said to be capitalist, since few exceptions could still comply with the socialist ideals.

In a capitalist environment , competition occurs as forces in a global market economy, and countries are the scenarios where actors play.

The opposed model of state intervention in the economy and intromission in the market is disappearing, at least according to classical marxist premises.

(Examples: Venezuela, Vietnam, North Korea)

Some countries have social democracies, with important intervention in some key areas like education: climate and environment. The representative countries like these are the Scandinavians.