Define:-
A)Communism
B)Socialism
C)Capitalism
Answers
Answer:
The main difference is that socialism is compatible with democracy and liberty, whereas Communism involves creating an 'equal society' through an authoritarian state, which denies basic liberties. ... Communism is a political and economic ideology – closely associated with the state Communism of the Soviet Union and China.
Explanation:
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Answer:
(A) the political system in which the state owns and controls all factories, farms, services, etc. and aims to treat everyone equally.
(B)Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises. ... Socialist systems are divided into non-market and
market forms.
(C)Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.