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Compare socialism, communism amd capitalism

Sagot :

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Answer:

The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.

Explanation:

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ANSWER

Socialism is a system of government where by all economic and social activities of production, distribution and exchange of goods and services are controlled by the state/government.

Communism is an economic and political system of government whereby all economic activities of production, distribution and exchange of goods and services are owned by the community, the focus of communism is to have a classless society and the father of communism is Marx Webber. The slogan of the communist is "from each according to his ability, to each according to his needs"

Capitalism is an economic system whereby MAJOR activities of production, distribution and exchange of goods and services are controlled by private individuals. The term MAJOR should be taken note of because these private individuals also have to work according to the law laid down by the government.

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