WORLD HISTORY

Detailed explanation-1: -A capitalist economy is a type of free market economy; the profit motive drives all commerce and forces businesses to operate as efficiently as possible to avoid losing market share to competitors.

Detailed explanation-2: -Pure capitalism refers to an economic system that is private and free. In a pure capitalist system, private businesses compete in the market without any interference from the government. In contrast, in a mixed economic system, private property ownership is permitted but there is some governmental interference.

Detailed explanation-3: -Capitalism is an economic system in which the means of production are privately owned.

Detailed explanation-4: -What are the characteristics of a command economy? A command economy has a small number of typical elements: A central economic plan, government ownership of the means of production, and (supposed) social equality are essential features of a command economy.

Detailed explanation-5: -A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.