Question

Write two points of difference between Capitalism and Socialism​

Answer 1

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$\sf\pink{Capitalism}$ →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.

$\sf\pink{Socialism}$→A socialist economic system is characterised by greater government intervention to re-allocate resources in a more egalitarian way.

→There are also different aims of the economic systems.

Answer 2

Answer:

Two Difference between Captilism and Socialism Are :-

i)In Captilism The property and Capital was owned by Single individual . While In Socialism The Property Is Owned By Society as a Whole rather than a single individual.

ii)In Capitalism The profit was accumulated in the hands Of A Few Individuals and They thought only for the benefit of those who made the profit productive (like workers) . While in Socialism The Profit Was Distribuited equally among people and Attention was paid to collective social interest

Hope it helped