What is An economic system based on individuals looking out for their own and their families best interest?

An economic system based on individuals looking out for their own and their families' best interests is typically referred to as a capitalist or market economy. In this system, decisions regarding production, investment, and distribution are driven by individual choices and competition, with minimal government intervention. The idea is that individuals acting in their self-interest will lead to efficient resource allocation and economic growth. However, this can also result in inequalities and externalities that may require regulation or intervention to address.