Match the characteristics with the economic systems. answers may be used more than once. part a: a. socialismb. communismc. free enterprise [capitalism]d. mercantilismpart b: 1. grew out of socialism 2. was a reaction to capitalism 3. emphasizes competition 4. private ownership 5. seeks an economy under the collective social control of the working class 6. controls not only all factors of production, but all areas within society 7. rewards personal initiative 8. classless society 9. pursuit of profit 9. governments sought to gain power by accumulating more wealth than other nations