what is meant by capitalism and communism?
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Capitalism
The economic and political system in which industries and trade are owned and controlled by private individuals or groups.
Communism
The ideology, based on Marxism, in which communal ownership of means of production is promoted.
In a communist society, there must be no private ownership and no class structure. Each member of the community must work according to his or her abilities for the good of the whole community and they should be rewarded according to their needs.
Communism must be brought about by revolution and violence, and is associated with a totalitarian Communist Party who takes total control of economic, social and political aspects.
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