Capitalist Mode of Production

The Capitalist Mode of Production is an economic system where private individuals or companies own and control resources and businesses, rather than the state. In this system, goods and services are produced for profit in a competitive marketplace. Individuals work for wages, and the prices of goods are determined by supply and demand. Capitalism encourages innovation and efficiency but can also lead to social inequalities. Overall, it is driven by the pursuit of profit and often prioritizes individual freedom and market choice.