difference between capitalistic and socialistic economy ......
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Key Differences Between Capitalism and Socialism
The economic system, in which the trade and industry are owned and controlled by private individuals is known as...
The basis of capitalism is the principal of individual rights, whereas socialism is based on the principle of equality.
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...
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