Question

Difference between capitalist socialist and mixed economic

Answer 1

Capitalism encourages innovation and individual goals while Socialism promotes equality and fairness among society.

In the socialist economy, the resources are state-owned but in the case of the capitalist economy, the means of production are privately owned.

Answer 2

Answer:

capitalist encourage innovation and individual goals while

socialism promotes equality and fairness among society .

a mixed economy is one in which the government doesn't own all the means of production , but government interest may legally circumvent, replace , limit or otherwise regulate private economic interest