What does individual initiative means and how does it relate to capitalism

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31-08-2020
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What does individual initiative means and how does it relate to capitalism

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katelynliz04 katelynliz04 · Answer 1 · 2020-08-31T17:42:34+02:00

katelynliz04 katelynliz04

31-08-2020

Individual initiative determines what will be produced.

It relates to capitalism because capitalism is based on individual initiative and favors market mechanisms over government intervention

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TusharYadav TusharYadav · Answer 2 · 2020-08-31T17:45:16+02:00

TusharYadav TusharYadav

31-08-2020

Answer:

Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.

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