a competitive economic system in which products and production means are owned by individuals or private groups

Marx argued that capitalism was the key feature of the modern world, but created such profound inequality that it would eventually have to be abolished in a future socialist society.

something with a practical use or value

Fertile land and drinkable water have always been precious commodities.

a way to describe a group of people based on things like their age, gender, income, education, or where they live

Demographic information helps advertisers decide the best places to advertise.

to force another person into slavery or to be in a condition of bondage

The Romans enslaved thousands of people, with many being owned by the state to work in agricultural and mining industries.

having origin in a country or locality; native

The indigenous people of Hawaii suffered from illnesses brought by missionaries and other settlers.

the doctrine, developed in the West after the decline of feudalism, that a nation's economy could be strengthened by governmental protection of home industries, by increased foreign exports, and by accumulating gold and silver

England developed many colonies under the economic policy of mercantilism in order to increase its trading territory.

a capitalist economic system dependent on enslaved labor

The plantation system in America forced enslaved people to endure harsh conditions.