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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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