what is capitalism socialism?
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Capitalism. Socialism is an economic and political system under which the means of production are publicly owned. Production and consumer prices are controlled by the government to best meet the needs of the people. Capitalism is an economic system under which the means of production are privately owned.
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Capitalism and socialism are economic systems that countries use to manage their economic resources and regulate their means of production. In the United States, capitalism has always been the prevailing system. ... Capitalism's success is dependent on a free market economy, driven by supply and demand
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