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kvasek [131]
3 years ago
15

How does capitalism differ from socialism when it comes to the ownership of property?

Business
2 answers:
yKpoI14uk [10]3 years ago
8 0
Ownership<span>. In a </span>capitalist<span> economy, </span>property<span> and businesses </span>are<span> owned and controlled by individuals. In a </span>socialist<span> economy, the state owns and controls the major means of production. In some </span>socialist<span> economic models, worker cooperatives have primacy over production</span>
tiny-mole [99]3 years ago
7 0

For anyone who still needs this, here's my answer from Edge:

Capitalism is built on the respect of private property, meaning that the government cannot control what people buy with their obtained wealth. In socialism, however, the government has more control over the economy. Property like business buildings may be owned and ran by the government rather than a single individual.

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3 years ago
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aalyn [17]

If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a perfect competitor.

Turnover is the total amount of revenue generated from the sale of goods or services related to the company's main activities. Earnings, also known as gross earnings, are often referred to as the "top line" because they are at the top of the income statement. Income or Net Profit is the gross profit or profit of a business.

Simply put, revenue is how much money a company makes and profit is how much money a company can keep after paying all its expenses. Here's another example that clarifies where sales and profit are on the income statement. The black box at the top shows the gross or gross sales.

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2 years ago
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4 years ago
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3 years ago
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motikmotik
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