Wednesday, December 5, 2012

12/5 words

Capitalism- a economic system that is based on private ownership for production and the products of goods and services.
Communism- revolutionary socialist movement to create a classless and socials order
free enterprise-Private business operating for profit without information from government beyond regulations.                                                                                                                                                                                        
Free market- An economic system in which prices are determined by competition of privately owned businesses.


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