Question

Explain the benefits of capitalism. Support your discussion with reasons and evidence.

Answer 1

The main benefit of capitalism is that it places economic prosperity in the hands of private citizens. this implies that people must pursue their full potential in order for them to become wealthy and prosperous in life. The economy  does this by creating a free market economy with minimal government intervention.

 

Answer 2

· Capitalism promotes efficiency. All the businesses in a society based on capitalism acquire motivations to be productive and work efficiently and create in-demand products. Motivations produce burdens to lessen costs and reduce waste. Public businesses usually are not so efficient, for example, they are usually not getting extra workers, and they give fewer incentives

· There is an innovation in Capitalism. Businesspersons and companies are looking to innovate and develop more money making goods. It means more investment in innovative goods that can be widespread among the buyers.

· Economic expansion. Businesses and consumers are getting motivations and incentives to do their work better. This will result in a higher standard of living.