Capitalism  - an economic system in which individuals own and operate the majority of businesses that provide goods and services, Market economy - an economic system based on competition in the marketplace in which individuals own and operate the majority of businesses that provide goods and services, Mixed economy - an economic system where most land and business are privately owned but with various levels of government involvement, Command economy - an economic system in which the government decides what goods and services will be produced, how they will be produced, for whom available goods and services will be produced, and who owns and controls the factors of production, Socialism - an economic system in which the key industries are owned and controlled by the government, Communism  - an economic system where all property and profits are owned by the government, which then decides what goods and services will be produced,

Chapter 1: Economics

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