Capitalism: economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corm: porations, especially as contrasted to cooperatively or state-owned means of wealth.
Communism: 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.
Free enterprise: an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of government alintervention and regulation.
Free market: an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies.
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