The correct answer to this open question is the following.
The economic system in which most economic activity occurs in the private sector, where businesses are conducted by individuals or organizations in order to make a profit is Capitalism.
The Capitalist economic system allows people to have private property and to create businesses in order to generate a profit. In a Capitalist system, supply and demand in the free market establish the prices of goods and services, and the government intervention is minimum. Capitalist was created to make a profit, and under proper legislation, people can become wealthy due to his work, dedication, trade, and investments.
