WORLD HISTORY

Detailed explanation-1: -Market economies are closely associated with capitalism. Individuals and businesses own the resources and are free to exchange and contract with each other without permission from government authorities. The collective term for these uncoordinated exchanges is the “market."

Detailed explanation-2: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

Detailed explanation-3: -A mixed economic system is an economy in which there exists private ownership by businesses and individuals (i.e., capitalism), but in which there is some degree of state involvement (i.e., socialism).

Detailed explanation-4: -Capitalism is the economic system in the United States. It is a market economy. Capitalism means that people, not the government, own most businesses. In the U.S., businesses decide what to sell.