Answer:

The best answers to your matching question, would be:

1. An economic system where the factors of production are privately owned: Capitalism. This is because capitalism is defined precisely as an economic system in which the means of production, and how things are operated, are privately owned and the purpose is to generate profit.

2. Economic system characterized by a central authority which makes major economic decisions: Command economy. This is because in a command economy is is the government, rather than the free market that determines how much, when, and what will be produced, as well as who will have control over things.

3. This is an economy in which the government has little to say about what, how, and for whom goods are produced; the factors of production are privately owned: Market economy. Unlike the command economy, where the government dictates how things will work, in the market economy it is the market itself that will dictate how things work, and the government has very little, to no, control.

4. This is a free enterprise system with some government involvement: Mixed Economy. A mixed economy is like the balance between the extremes. In it, both the market and the government join forces to direct how, what and for whom goods and services will be produced.

5. This is the term used to describe economic systems in which the basic economic questions are answered based on a socially, pre-established way: Traditional Economy. A traditional economy is the one that is shaped by the traditions, customs and systems of belief of a group of people and which determine the goods and the services that will be offered. Most common in this categor are those countries whose systems of production are still mainly agricultural