Final answer:
The economic theory focused on explaining the workings of capitalist enterprise and distribution is capitalism, where markets are guided by supply and demand. Socialism offers a contrasting approach with government-managed distribution. Discussions on these theories connect to broader concepts of distributive justice within societies.
Step-by-step explanation:
The economic theory that represents a formal attempt to explain the workings of capitalist enterprise and pays particular attention to distribution is called capitalism. Under capitalism, private ownership and individual investment drive the production of goods and services, with distribution directed by the forces of supply and demand within a competitive free market, as theorized by Adam Smith. In contrast, socialism involves a system where the means of production are commonly owned, often by the government, which centrally controls the economy and distribution of goods and services. These theories are part of broader discussions about distributive justice, reflecting how a society decides to regulate social life and care for its members. Free market economies rely on the concept that minimal intervention by government results in the most efficient distribution of resources, where individuals are free to engage in transactions and the market itself resolves who produces and consumes what goods and services. Various social theories, including functionalism, conflict theory, and symbolic interactionism, offer differing viewpoints on how the economy operates and how work is viewed within these systems.