| A | B |
|---|
| Free Enterprise | Under this, resources are privately owned, and competition is allowed to flourish with a minimum of government interference. |
| Economic freedom | A characteristic of capitalism meaning you have the freedom to choose your occupation, employer, job location and buy what you choose. You are also able to leave your curent job fo one that provides more opportunity. |
| Voluntary Exchange | A characteristic of capitalism meaning buyers and sellers freely and willingly engage in market transactions. both buers and sellers act on the belief that they are getting the better end of the deal, otherwise they wouldn't engage in the transaction. |
| Private Property Rights | A characteristic of capitalism which allows people to own and control their possessions as they wish. |
| Profit Motive | Another characteristic of capitalism, this is a driving force that encourages people and organizations to improve their material well being. |
| Competition | Another characteristic of capitalism, this is the struggle among seller to attract consumers with the best products at the lowest prices. |
| Individual Freedom | A benefit of capitalism- This is evident in many ways, from choices we make in the market to choices we make in the voting booth. Strong and stable democratic traditions are also present in countries with free enterprise capitalism, both of which help reinforce each other. |
| A Variety of goods | A benefit of capitalism- Market economies everywhere are renowned for producing a number of varioustypes of goods of all shapes, colors, and sizes, depending upon the type of product. |
| Adapting to change | A benefit of capitalism- Market economies adjust daily to forces of change , mainly through th eprice system, and the change in a price of one product can affect changes in other industries |
| Promoting Progress | A benefit of capitalism- the result of free markets will be economic progress in the form of a continuing supply of newer and better products. |
| Creation of Wealth | A benefit of capitalism - The accumulation of products that are tangible, are scarce, have utility and are transferable from one person to another is what happens when more and better products are produced in a free makret capitalist system. |
| Uneven economic growth | A Disadvantage of free enterprise capitalism of which the Great recession and Great Depression are examples. |
| Growing Gaps Between Rich and Poor | A diadvantage of capitalism where the rich seem to get richer but the poor stay poor. |
| Large "Supply side tendencies | A disadvantage of capitalism that refers to the tendency of suppliers to combine with suppliers in order to avoid competition which makes competitive markets less efficient. |
| Rights and Responsibilities of business | Businesses have the same rights as individuals ... They can't vote but they can pretty much donate as much money as they want to a political campaign so i can't feel too bad for them. Businesses also have responsibilities due to government regulations which limit the scope of their activities. The Consumer Product safety commission protects consumers against unsafe products. |
