List 3 characteristics about capitalism

1. A Two-Class System

Historically, capitalist society was characterized by the split between two classes of individuals—the capitalist class, which owns the means for producing and distributing goods (the owners) and the working class, who sell their labor to the capitalist class in exchange for wages. The economy is run by the individuals (or corporations) who own and operate companies and make decisions as to the use of resources. But there exists a “division of labor” which allows for specialization, typically occurring through education and training, further breaking down the two-class system into sub-classes (e.g., the middle class).  

2. Profit Motive

Companies exist to make a profit. The motive for all companies is to make and sell goods and services only for profits. Companies do not exist solely to satisfy people's needs. Even though some goods or services may satisfy needs, they will only be available if people have the resources to pay for them.

3. Minimal Government Intervention

Capitalist societies believe markets should be left alone to operate without government intervention. However, a completely government-free capitalist society exists in theory, only. Even in the United States, the poster child for capitalism, the government regulates certain industries, such as the Dodd-Frank Act for financial institutions.1  By contrast, a purely capitalist society would allow the markets to set prices based on demand and supply for the purpose of making profits.

During the Texas Revolution, a convention of American Texans meets at Washington-on-the-Brazos and declares the independence of Texas from Mexico. The delegates chose David Burnet as provisional president and confirmed Sam Houston as the commander in chief of all Texan forces. The Texans also adopted a constitution that protected the free practice of slavery, which had been prohibited by Mexican law. Meanwhile, in San Antonio, Mexican General Antonio Lopez de Santa Anna’s siege of the Alamo continued, and the fort’s 185 or so American defenders waited for the final Mexican assault.

Explanation: