Question

Differentiate between Socialism and Communism (write in points)​

Answer 1

SOCIALISM

1. Socialism suggest that contribution is made from everyone according to their ability but they get back according to size of their contribution.
2. Profits are distributed depending on the results of every individual work.
3. There is a Central Government that its own all the means of production decides on the distribution of goods and makes planned for the economy.
4. There personal and public property.
5. Large amount of people and large country

COMMUNISM

1. Communism suggest that hat everyone in society and contributes work according to their ability and gets back everything according to their needs.
2. Everyone has free access to all the good that community has to offer.
3. There is no government because everything is owned collective by every member of society.
4. There no private property.
5. Small amount of people.