The term "capitalistic system" is often used interchangeably with phrases such as "free market economy," "market-based economy," and "laissez-faire capitalism." These phrases all refer to an economic system in which the means of production and distribution are privately owned and operated for profit in a competitive market. Other synonyms for "capitalistic system" include "enterprise system," "economic liberalism," and "neo-liberalism." However, it is important to note that these terms may carry different connotations and interpretations depending on one's political beliefs and economic theories. Regardless of the terminology used, the capitalistic system continues to be a dominant force in our global economy.