Capitalist economic systems are typically more productive in the amount of resources they develop.
In a socialist economy, the government controls the means of production. This means they would determine how many goods/resources are needed for their citizens. However, in a capitalist society, the amount of goods/resources produced is dependent on the wants of the consumer. This allows businesses to curtail their production to the needs of the citizens rather than the government.
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Private property refers to a kind of system that allocates particular objects like pieces of land to particular individuals to use and manage as they please, to the exclusion of others and to the exclusion of any detailed control by society. In legal terms it's usually a designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity; and from collective (or cooperative) property, which is owned by a group of non-governmental entities Certain political philosophies like socialism and anarchism make a clear distinction between private and personal property while others blend the two together. Private property is a legal concept defined and enforced by a country's political system
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Answer: The effects of World War I gave rise to the Russian Revolution. In February and March 1917, a popular revolution forced the abdication of Tsar Nicholas II and the rise of a provisional government. This government, which kept Russia in the war, was itself overthrown by radical socialists just eight months later.
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