Answer:
Following are the difference between capitalism and socialism:
Explanation:
Capitalism:
It is an economic framework, that maintains personal or company ownership of the production, distribution, and funds activity through profit.
It is also considered as an economic framework wherein the private entities possess assets, that are controlled by the property to satisfy the needs or production and consumption independently set the prices for markets so, that it can serve society's best needs.
Socialism:
It is a system of economics and politics, in which the voluntary institution's economic ideology. It assumes that employees must control the process of creating, starting to move as well as the payment period.
It includes money, which produced falls instead of the group of private individuals to the people who make the products.
