Question

the economic system characterized by private ownership, free markets, and the pursuit of profit that became dominant in the 19th century is known as 　　.
the practice of acquiring and maintaining colonies by powerful countries, often for economic exploitation, is referred to as 　　.

Explanation:

1. The described economic system with private ownership, free markets, profit motive, and 19th-century dominance is a core concept in economic history.
2. The practice of powerful countries taking and holding colonies for exploitation is a key term in historical and political studies.

Answer:

1. Capitalism
2. Colonialism