The characteristics or beliefs of capitalism are as follows:
1. Driven by free enterprise (free market economy & private businesses): In a capitalist system, individuals and businesses are free to own property and make decisions on how to use it. The economy is based on supply and demand, with little government intervention in the market. Private businesses operate to make a profit, and competition among them drives innovation and efficiency.
2. When people compete against one another, they achieve greater things: Capitalism values competition as it is believed to lead to better products, services, and overall economic growth. The drive to outperform others in the market fosters innovation, productivity, and economic progress.
The statements "No-one should have more than anyone else - everybody's needs are equally important" and "Property is owned by the state" do not align with the characteristics of capitalism. In capitalism, the focus is on private ownership of property and resources, individual initiative, and the pursuit of profit through competition in the market.
