Principals of Captialism

Principals of Captialism

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  • freedom of choice 
  • profit 
  • competition 
  • Samsung
  • Freedom of choice means that the person is able to choose his own course of action and his own pattern of living, subject to the requirement that he shall not violate the freedom of choice of others.~sense of ownership in their country~
  • private property 
  • Profit is a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.~this is the benefit of operating~
  • Competition is a condition where different economic firms seek to obtain a share of a limited good by varying the elements of the marketing mix:  Price, Product, Promotion, Place~Options~
  • Private property is tangible and intangible things owned by individuals or firms over which their owners have exclusive and absolute rights. ~maximize value~
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