The content is just an excerpt from the complete note for SS1 First Term Government Lesson Note – Basic Concept: Capitalism and Socialism. Check below to download the complete DOCUMENT
WEEK 8
TOPIC: BASIC CONCEPT
CONTENT
Sub-Topic 1: MEANING OF CAPITALISM:
Capitalism is a political and economic system in which the means of production, distributing and exchange are owned and controlled by private individuals and in which the economic activity of the government is at a minimum level. Some of the countries of the world that practice and adopt capitalism are U.S.A, Britain, Nigeria, France, Japan etc.
FEATURES OF CAPITALISM:
MERITS OF CAPITALISM
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