12/5/12

Today in class we defined Capitalism, Communism, Free Enterprise, and Free Market. Capitalism is an economic and political  individualism’s basic premise is that the pursuit of self-interest and the right to own private property are morally defensible and legally legitimate. By private or corporate ownership. Communsim is where there are no classes and the govrnment controls the businesses and in its true form there are no poor people or rich people. Free market is

an economic system, in which prices are restricted between privately owned businesses