The economic system that consists of private owners controlling production is Capitalism. Capitalistic ownership dwell on four factors: <em>entrepreneurship</em>, <em>capital goods</em> (man-made items use to produce services), <em>natural resources</em> (materials from the Earth that people use to their needs) and <em>labor</em> (physical, mental and social effort used to produce goods in an economy).
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Containment was a United States policy using numerous strategies to prevent the spread of communism abroad. A component of the Cold War, this policy was a response to a series of moves by the Soviet Union to enlarge its communist sphere of influence in Eastern Europe, China, Korea, and Vietnam.
Yes. Creating laws would be the most important power congress holds. Good job!
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