Capitalism- is an economic system that is based on private
ownership of the means
of production and the production of goods or services for profit. Profit is how people make money.
Communism- a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state. Classless-
Free Enterprise- An economic system where few restrictions are
placed on business activities and ownership. In this system, governments
generally have minimal ownership of enterprises in the market place.
This system aims for limited restrictions on and
minimal government intervention.
Free Market- An economic system in which prices are determined by
unrestricted competition between privately owned businesses.
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