Capitalism/ Capitalist Economic System: is that most of the goods and services people need and want are produced by private companies. (Also be aware of Socialism: production of goods and services is in the hands of the government.)
Capital: is the money that has been invested into a business venture to start it up and keep it open.
Profit: is the money the business owner makes after paying the investment and paying other expenses.
Standard of Living: is how much 'buying power' a family has.
Personal Capital: includes anything you might have to improve your economic situation.
No comments:
Post a Comment