Basic Details
Word: Capitalism
Part of Speech: Noun
Meaning: An economic system where businesses are owned by individuals or companies rather than the government, and where goods and services are produced for profit.
Synonyms: Free enterprise, market economy
Antonyms: Socialism, communism
Idioms and Phrases
- Grease the wheels of capitalism: To make things work better by supporting businesses. Example: "Investing in local startups can really grease the wheels of capitalism in our town."
- Capitalist pig: A term sometimes used to criticise someone who is seen as greedy or overly focused on profit. Example: "He was called a capitalist pig for wanting to cut jobs to increase his profits."
Usage Examples
Example 1: Capitalism encourages people to create new businesses and come up with innovative ideas.
Example 2: In a capitalist economy, prices usually change based on supply and demand.
Example 3: Some believe that capitalism leads to greater prosperity, while others argue it causes inequality.
Fun Fact
Did you know that capitalism has roots dating back to the late Middle Ages, evolving throughout the Renaissance and Industrial Revolution to become the dominant economic system in many countries today?
Famous Quote
"Capitalism is based on the assumption that the individual is more important than the group." - Ruth C. C. Li
Multiple Choice Questions (MCQs)
1. What does "capitalism" mean?
a) An economic system where the government controls all businesses
b) An economic system based on private ownership and profit
c) A way of farming
d) A method of storytelling
Answer: b) An economic system based on private ownership and profit
2. Which of these is a synonym of "capitalism"?
a) Central planning
b) Free enterprise
c) Regulated economy
d) Bureaucracy
Answer: b) Free enterprise
3. What is an antonym of "capitalism"?
a) Free market
b) Socialism
c) Liberalism
d) Globalisation
Answer: b) Socialism
4. Which sentence uses "capitalism" correctly?
a) Capitalism is the best way to grow carrots.
b) In a capitalism, everyone gets what they want for free.
c) Many countries operate under a capitalism system where businesses are privately owned.
d) Capitalism helps the plants in the garden grow faster.
Answer: c) Many countries operate under a capitalism system where businesses are privately owned.
5. What does the idiom "grease the wheels of capitalism" mean?
a) To slow down economic growth
b) To improve business interactions and support
c) To confuse business owners
d) To stop all trade
Answer: b) To improve business interactions and support
