Question

differentiate between communism and capitalism
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Answer 1

Answer:

Capitalism and communism are different in their political and economic ideologies. Capitalism and Communism never go together.

One of the major differences between capitalism and communism is with regard to the resources or the means of production.

In Communism, the community or society solely owns the resources or the means of production. On the other hand, in capitalism, the resources or the means of production lies with a private owner.

While the profit of any enterprise is equally shared by all the people in communism, the profit in a capitalist structure belong to the private owner only. While the private party controls the resources in capitalism, it is the society that controls the whole means of production in communism.