Wednesday, December 5, 2012

capitalism
An economic and political system in which a country's trade and industry are controlled by private owners for profit.


communism

 political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned 



free enterprise
An economic system in which private business operates in competition and largely free of state control.


free market 

An economic system in which prices are determined by unrestricted competition between privately owned businesses.

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