What best reflects the economic and social idea associated with capitalism?

Capitalism is best reflected by the principles of private ownership, free markets, and competition. It emphasizes individual entrepreneurship and innovation, where businesses operate for profit with minimal government intervention. Socially, capitalism promotes the idea of meritocracy, where individuals can improve their economic status based on effort and talent. However, it can also lead to disparities in wealth and social inequality, raising debates about the balance between economic freedom and social welfare.