That's why we have books. The books some people believe and others just think they are old boring stories.
They were passed in effort to prohibit certain actions that led to anti- competitiveness
Here is some information that you can use to help your write this essay:
Communism/Socialism:
Advantage
- There are no social classes- This means that there are no poor individuals within a society. There is no upper, lower, or middle class. Everyone has about the same amount of income/resources.
Disadvantage:
- Little economic freedom- The government plans the economy. This means they control how many products a business makes and how many goods/resources each family has.
Capitalism
Advantage:
- Individual freedom- In a capitalist society, citizens can buy whatever they want as long as they have the money. This allows citizens to do what they want, when they want, without having the government telling them what to do.
Disadvantage:
- Poverty/Homelessness- This system involves very little government interference with the economy. This means there will be social classes. Ultimately, some individuals will end up poor or homeless for any number of reasons.
It enabled them to increase their power over the trade business creating a complete monopoly which in turn led even to military expansions. Eventually, it led to the complete fall of Mughal empire and establishment of East India Company as the rulers of colonial India.
