similarities between ideas on capitalism and socialism
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capitalism:
1. private owned factories/industries exist.
2. it give rise to two classes of people- capitalists and workers.
3. individual is given importance .
4. excessive production occurs .
5. rich enjoy the luxuries and comforts.
6. monopolies exist.
socalism:
1. goverment owned factories /industries exist.
2. only one class of people exit i.e, the working class
3. society is given importance
4.production is done according to the needs
5. all people to enjoy a decent standard of living
6. no monpolies are there.
i hope it would be helpful to u
1. private owned factories/industries exist.
2. it give rise to two classes of people- capitalists and workers.
3. individual is given importance .
4. excessive production occurs .
5. rich enjoy the luxuries and comforts.
6. monopolies exist.
socalism:
1. goverment owned factories /industries exist.
2. only one class of people exit i.e, the working class
3. society is given importance
4.production is done according to the needs
5. all people to enjoy a decent standard of living
6. no monpolies are there.
i hope it would be helpful to u
rsushma:
sorry but i have written the differences of socalism and captalists. sorryyyyy
1. Both must participate in global markets
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