Capitalism- Is a social system based on the principle of individual rights. Politically, it is the system of freedom. Legally it is a system of objective laws . Economically, when such freedom is applied to the sphere of production its’ result is the free-market. It has many ways for production and based on that. Its suppose to be very profitable
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.
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 governmental intervention 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.
