Question

Explain
i.Communism
ii.Capitalism
iii.Socialism
Please explain it in simple words
I will mark brainliest

Answer 1

Hello friend...

Communism:- The political system in which the state owns and controls all factories, farms, services, etc. and aims to treat everyone equally.

Capitalism:- The economic system in which businesses are owned and run for profit by individuals and not by the state.

Socialism:- The political idea that is based on the belief that all people are equal and that money and property should be equally divided.


Hope it helped u.....☺️☺️

Answer 2

communism

a theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs.

capitalism

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

socialism

a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.