Que:_Write difference between socialism and capitalism.
Good Evening ..
How are you ¿
dishapanda38:
really ankit
Answers
Answered by
1
Que:_Write difference between socialism and capitalism.
Explanation:
The main difference between capitalism and socialism is the extent of government intervention in the economy. A capitalist economic system is characterised by private ownership of assets and business. A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods.
Gud morning
I am fine and u
Answered by
1
Answer:
Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.
Similar questions