Capitalism is an economic system in which productive assets are largely privately owned and resources are allocated through markets. In practical terms, this means individuals and firms invest capital, hire labour, produce goods or services, and compete for customers. Prices emerge through exchange. Profit signals success. That is the basic
Meritocracy is the principle that social and economic rewards should be distributed according to ability and effort rather than birth or inherited status. In a meritocratic system, advancement is justified by performance. Educational achievement, skill, productivity, and measurable competence determine opportunity. At least in theory, talent rises. This idea is
Democracy is a system in which political authority ultimately rests with the people. In practice, this means governments are chosen through elections, leaders can be removed without violence, and laws constrain those who govern. That is the formal definition. But democracy is not held together by elections alone. It is