What is Capitalism: Explained

What is the main driving force of the economy under capitalism?

• Environmental concerns

• Individual self-interest

• Social welfare programs

• Government intervention

Who wrote the famous book 'The Wealth of Nations' in 1776, which discussed capitalism?

• Adam Smith

• Milton Friedman

• John Keynes

• Karl Marx

What did Karl Marx argue about capitalism in his book 'Das Kapital'?

• It provides individuals with freedom to choose what they produce

• It leads to increased wealth and economic growth

• It exploits workers and concentrates wealth in the hands of a few capitalists

• It promotes innovation and entrepreneurship

What is one of the pros of capitalism according to its supporters?

• It allows for the exploitation of workers

• It leads to wealth and income equality

• It allocates resources in the most efficient manner possible

• It promotes environmental concerns

What is one of the cons of capitalism according to its opponents?

• It can lead to wealth and income inequality

• It creates jobs and reduces unemployment

• It prioritizes environmental concerns over profits

• It ensures economic stability and certainty

What is the role of the government in a laissez-faire capitalism?

• Minimal intervention

• Social welfare programs

• Heavy regulation

• Complete control

What is the main goal of businesses in a capitalist system?

• Social welfare

• Environmental sustainability

• Pursuit of profit

• Government intervention

What is the main factor that determines prices of goods and services in a capitalist system?

• Government regulations

• Consumer preferences

• Supply and demand

• Environmental concerns

What is the main argument of those who support capitalism regarding economic growth?

• It leads to economic instability and uncertainty

• It promotes innovation and entrepreneurship

• It exploits workers and concentrates wealth

• It prioritizes environmental concerns over profits

What is the main argument of those who oppose capitalism regarding environmental impacts?

• It promotes innovation and entrepreneurship

• It ensures economic stability and certainty

• It creates jobs and reduces unemployment

• It leads to pollution and degradation of natural resources