Examlex
Joe drinks a bottle of whiskey every day but functions well,and no one seems to notice the alcohol's effects.Joe can be defined as an alcoholic.
Capitalist Economy
An economic system where private individuals rather than the state own and control businesses and the means of production.
Market System
The operational mechanics of this economic setting revolve around decisions on investment, production rates, and distribution channels being directed by supply and demand, with a pricing strategy that allows for free determination of goods and services prices.
Entrepreneurship
The act of creating, organizing, and running a new business venture, often taking on financial risks in the hope of profit and innovation.
Specialization
The process by which individuals, firms, or countries concentrate on producing a narrow range of goods or services, often to increase efficiency and output.
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