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Essay

capitalism

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Issue:

Business

 

Written by:

Robbin C

 

Date added:

May 27, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 884

 

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4632 times

 

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Essay content:

In this system, there are two main classes, workers and capitalists, even though there are other classes such as middle class. A commodity is any good or service that is produced with the purpose of selling it in order to make a profit. Privately owned capital goods are machines, buildings, offices, tools, and other things needed in production and whose owner, due to a property right, decides how the property will be used...
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Profit comes in a form of surplus product in a capitalist economic system. It is what is left over, out of sales revenue after all the wages, the costs of materials used up, and wear and tear on machines have been paid. Secondly, a class is a group of people who share a common position in the economy with respect to the production and control of the surplus product...
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