1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dimaraw [331]
3 years ago
14

Identify a main difference between socialism and capitialism

History
2 answers:
vichka [17]3 years ago
8 0

Socialism and capitalism represent two different ideologies that have defined political and economic structures of various nations around the world. One of the main differences between socialism and capitalism is their approach towards using capital, profit and the concept of private property. While capitalism recognizes the ideal of profit-making, privatization and the concept of private property, socialism propagates the idea of equality among all sections of society, which meant that there was no concept of private property, and all profits, if any, was equally shared by everyone. Thus, resources are under state control, and there is an absence of a free market. On the other hand, a capitalist market contains the scope for personal profit, allowing for wealth accumulation and a free competitive market where a consumer can choose among varieties of products offered for sale.

Further Explanation-

Capitalism constitutes the idea of a free-market economy, which relies on the forces of the economy. The government of capitalist nations does not determine the allocation of resources, and it totally depends on the demand and supply of resources and products. Since capitalism operates within a free market economy, a capitalist nation aims at achieving control of markets so that economic forces can generate the formation of capital, which is necessary for upholding the nation’s economic and political stability. On the other hand, a socialist nation has access to almost all of the nation’s resources and directs its usage and allocation towards various sectors. This is guided primarily by the aim of removing economic differences within various sections of the society, thus providing for a more egalitarian approach to the prospect of economic profit. Any surplus achieved is pooled back and devoted to the cause of social welfare and the nation’s economic advancement. Thus, private property is an alien concept within a socialist nation.

Learn more:

1. How can an explanation make it easier to address economic problems in the future?

<u>brainly.com/question/10790916 </u>

2. According to Roger Williams, how did the English usually justify their attacks on the Indians?

<u>brainly.com/question/4891530 </u>

Answer Details-

Grade- Graduation

Chapter- Forms of the economy in states

Subject- Economics

Keywords-

Private property, privatization, economy, political structures, profit accumulation, social welfare, government control, free-market economy.

maksim [4K]3 years ago
5 0

A major difference between socialism and capitalism resides in how likely meritocracy is to flourish .

Socialism, in its rightest essence, would ensure that every individual within society enjoyed the same opportunities at the core (quality health, food, education). Naturally, some of these subjects would thrive more than others and therefore be promoted by society to hold higher levels of responsability and reward.  

However, the lesser gifted would never be at a disadvantage. They could still count on standard quality support by the same society and equal opportunity for their offspring to pursue their own ambitions.

On the contrary, capitalism creates a societal gap by supporting inherited advantage. In summary, a capitalist society provides better core opportunities for a group of citizens and their offspring regardless of their innate ambitions. The disadvataged group and their offspring then receive a less than standard core support which predisposes them for hardship in the pursue of societal reward.

You might be interested in
• Freeways
Maksim231197 [3]

Answer:

freeways, skyscrapers, large populations, and smog are all words used to help describe what an urban area is like.

Explanation:

Farming describes what it sounds like, farm land.

Recreational land may define something like parks and ponds

Rural areas are like the suburbs of large cities and small towns.

Urban areas are big cities like New York and Miami.

3 0
3 years ago
All of the following decisions were reached at the Second Continental Congress EXCEPT? Group of answer choices to demand a repea
ra1l [238]

Answer:  To demand a repeal of the Tea Act

Explanation:

Though the Second Continental Congress managed to set the foundation of what would later become the Federal Government, the demand to repel the Tea Act and the rest of the Intolerable Acts sanctioned by Britain was adressed on the First Continental Congress on September, 1774. On the First Continental Congress, the colonists also pleaded with King George III explaining their issues with the Acts imposed on them, commiting to reuniting again shall their demands not be met. Since the King dismissed their plea, the Second Continental Congress took place on May, 1775.

3 0
3 years ago
What are the essential elements of the literary pieces under different periods of literature?
Romashka-Z-Leto [24]

Answer:

The essential elements of the literary pieces under different periods of literature include

Allegory

Allusion

Antagonist

Characterization

Climax

Conflict

Connotation

7 0
3 years ago
Which of the following statements about Alexander the Great is false?
valentinak56 [21]
Well, I believe it is c, but it might also be d
6 0
3 years ago
Read 2 more answers
Who left a lasting legacy in philosophical thinking?
nevsk [136]

Answer:

Aristotle

Explanation:

Aristotle was one of the greatest philosophers who ever lived and the first genuine scientist in history. He made pioneering contributions to all fields of philosophy and science, he invented the field of formal logic, and he identified the various scientific disciplines and explored their relationships to each other.

7 0
3 years ago
Other questions:
  • who were the federalists and republican canidates for presidentsin the election of 1800?how did their politicsl podtions differ?
    9·1 answer
  • I need help with this question!!
    7·2 answers
  • Which US group did not share in the overall prosperity of the 1920's and struggled more than others to make ends meet?
    15·2 answers
  • What accounts for Vladimir Putin’s power in Russia?
    15·2 answers
  • Where was the first person admitted to Ellis Island from?
    7·1 answer
  • Explain how George Curry helped to reshape conservation in New Mexico.
    9·1 answer
  • Based on information from both selections, why do you think the employers were able to continue mistreating child employees even
    10·2 answers
  • Please help me finish filling out the rest. There's 2 screenshots. Thank you:)
    10·2 answers
  • What happens during a period of inflation?<br> Do not look for the answer from the web please.
    15·1 answer
  • What’s a similarity between the War of 1812 and the Mexican American War? Will award brainliest for best answer
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!