Describe what capitalism is.

Capitalism is an economic system in which the means of production and distribution of goods and services are privately owned and operated for profit. In a capitalist system, individuals and businesses have the freedom to compete in the marketplace, set prices, and make decisions about what to produce and how to allocate resources. The goal of capitalism is to generate wealth and economic growth through the pursuit of self-interest and the accumulation of capital. This system is characterized by a free market, where supply and demand determine prices and the allocation of resources. Capitalism also encourages innovation and entrepreneurship, as individuals and businesses seek to create new products and services to meet consumer needs and desires. Overall, capitalism is based on the principles of private property, free enterprise, and limited government intervention in the economy.