Socialism also implies a large, all-powerful central government that rules in a dictatorial way because this is needed to control the economy of a nation. Solved Question 8 1 pts Which of the following best - Chegg Owning private property in this system is allowed and encouraged. socialism vs capitalism lewrockwell. Capitalism - Learn About the Pros and Cons of Capitalism Capitalism is an economic system that is based on private ownership of businesses and factors of production. This economic system is characterized by the unregulated exchange of goods and services. eco test 1.docx - 1. Pure capitalism is an economic system ... an economic system characterized by private ownership of the means of production, decentralized decision-making, and market implementation. When we talk about Pure Capitalism , … Match the following items. Capitalism Pure Competition Question 1 Which of the following best describes pure capitalism? The old, laissez faire capitalism, where government intervention in the economy is absent or negligible; and. CAPITALISM Pure Competition. Capitalism And Capitalism Essay 948 Words | 4 Pages. pure capitalism