Final answer:
Market System, also known as Free Economy, is based on private ownership of resources and decision-making power in a free enterprise economic system.
Explanation:
Market System, also known as Free Economy, is a system where resources are owned by private individuals who make decisions about their use. This type of economy is often referred to as free enterprise economic system. On the other hand, a command socialist economy is when the government is the primary owner and has broad power over resources. Mixed economies combine elements of both market capitalist and command socialist systems.
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