Capitalism is an economic system that rewards firms for their ability to perceive and serve the needs and demands of consumers.
It is also called the private enterprise system.
Capitalism is an economic system in which privately-owned companies and businesses undertake most economic activity (with the goal of generating private profit), and most work is performed by employed workers who are paid wages or salaries.
Capitalism is a type of economic system characterized by private ownership of capital, competition among business seeking a profit, and consumer’s freedom of choice.