Įconomists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. In a capitalist market economy, decision-making and investments are determined by owners of wealth, property, ability to maneuver capital or production ability in capital and financial markets-whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor. Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.
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