The system of capitalism

Capitalism

A characteristic of private ownership business(or means of production) engaged in making a profit

-capital: the goods and tools used to make profits

-labor skills: the human ability to produce goods through physical talent, and skills

-resources: things like land, minerals, forests and oil

Wages

Income is produced through the wages an individual earns for their work, complete task getting paid

Profits

Income is generated as profits above what is costs to make a product, payoff your expenses, and take money that’s left over

How employers pay their workers

Minimum wage, cost of living, skill, education, training, experience, and supply and demand

Antitrust suits

Used to help encourage competition in a particular industry and break up monopolies

Monopolies

Companies that have complete control over a particular product or industry