Definitions for Words

• Capitalism: An economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism encourages private investment and business, compared to a government-controlled economy. Investors in these private companies (i.e. shareholders) also own the firms and are known as capitalists. It is economic and political system. They are controlled by private owners. The means of production is the process and things needed to make the product, the government doesn't run the business, but they might have a few laws to make it safe.
• Communism is a political system that aims to establish a classless society based on communal ownership of property. It attempts to resolve many of the inequities and problems that arise from capitalism, as well as the lingering effects of colonialism. 
• Free enterprise: Business governed by the market forces of demand and supply, un-restrained by undue government interference through excessive controls and regulations. In general, a synonym for capitalism
• Free Market: A free market economy is an economy in which the allocation for resources is determined only by their supply and the demand for them. This is mainly a theoretical concept as every country, even capitalist ones, places some restrictions on the ownership and exchange of commodities.