Which of the following correctly compares capitalism, socialism, and communism? Capitalism values society collectively, while socialism and communism value the market and the individual. Capitalism is focused on the market and the individual, while socialism and communism value society collectively. Capitalism seeks to redistribute wealth, while socialism and communism seek to limit the role of government in economic affairs. Capitalism seeks to limit the role of government in economic affairs, while socialism and communism reject the idea of wealth redistribution.
Answers
Private enterprise and communism are the two essential financial frameworks used to comprehend the world and the manner in which economies work.
Their refinements are many, however maybe the essential contrast among private enterprise and communism lies in the extent of government mediation in the economy.
The industrialist financial model depends on free economic situations to drive advancement and riches creation and manage corporate conduct; this progression of market powers takes into consideration the opportunity of decision, bringing about either achievement or disappointment.
The communist based economy consolidates components of unified monetary arranging, used to guarantee similarity and to energize fairness of chance and financial result.