Capitalism is a system in the economy where capitalists or private business owners are given the chance to own a business. The owner has the right to manage the whole business, production, and enterprise. The profit goes to the owner of the business and the government has nothing to do with it.
In capitalism, there is free market and profit depends on the distribution of goods. Although free market can be a disadvantage to the private business, still this can be a motivation for private owners to improve their products and services because of competition.
Capitalism is good in the economy because private individuals who are competent to put up a business can be given the privilege to join the corporate world. The more competition and businesses there are, the more investment there will be. Since these private owners have competitors, they can’t just give their own price and quality according to what they want. They must conduct studies and research to find out how to satisfy their customers.
Capitalism is beneficial to the economic because it can lift and boost the social system of a society. It can also attract more investors to the country because there is freedom to put up a business.
What is good about capitalism is that the government could not control the price and the supply of the products and services. Also, there will be enough employment for laborers because the more establishments are put up; the more human forces are needed.