Definitions

• Capitalism: an economic system that is based on a private ownership of the  means of production and the production of goods and or services for profit

• Communism: a revolutionary socialist movement to create a classless and stateless social order structured upon common ownership of the means of production

• Free Enterprise: an economic system in which private businesses operate 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