Capitalism is an economic system in which

Capitalism is an economic system in which private individuals or companies own and control the means of production and operate them for profit. This means that businesses and industries are privately owned, and individuals are free to produce and sell goods and services in a competitive market. Under capitalism, there is generally a focus on individualism, self-interest, and the pursuit of profit. This can lead to innovation, economic growth, and increased prosperity, but it can also lead to inequality and exploitation if left unchecked. The government's role in a capitalist system is generally limited to providing a legal framework for economic activity, protecting property rights, and enforcing contracts. There is no central planning or control of the economy by the state, and private property rights are upheld and protected. Therefore, the correct option is "private persons are permitted to undertake enterprises."