Free enterprise and socialism are the two major types of economic systems.
a. compare and contrast the two systems? (how are they the same and how are they different)
b. which system might tend to be more equitable and why (at least two real examples)?
c. which system might tend to be more efficient and why (at least two examples)?

Free enterprise is the term used to designate the concept of business in the market economy of the capitalist economic system, which is based on the rationalist ethics of individual freedom. According to liberal economic theory it is an essential concept for the theoretical operation without restrictions of a free market of perfect competition, without coercive monopolies or distortions due to state interventionism (fifth power). On the other hand Socialism is a social and economic system characterized by control by society, organized with all its members, both the means of production and the different forces of work applied in them. Modern socialism is, in the first place, because of its content, the result of reflection in intelligence, on the one hand, of the class antagonisms that prevail in the modern society between possessors and dispossessed, capitalists and salaried workers, and, on the other hand, , of the anarchy that reigns in production.

We could say that the Socialist system would be the most equitable, the goal of socialism is to build a society based on equality, economic equity, personal initiative, the moral cooperation of an individual, eliminating the compensations stratified by effort, promoting political structures and economic distribution such as social insurance or universal allowances (Assignments given to each individual born, by the mere fact of being born in the nation).

Regarding the most efficient system, we could say that it would be free enterprise, since it allows the free and unrestricted activity of all types of companies, under the argument that restricting or intervening in their activity would be against free enterprise. Clear examples would be the regulation of the price of products that are given by supply and demand and the most efficient use of resources, since they are the generators of wealth.