Answer:
Socialism - means of production owned by the people and the government for the welfare of society
Socialism is a term that describes a form of a political and economic system that is established on equality. This, it focused on the fair proportion of income, the end of private property, socializing means of production, the deliberate economy, and the appropriation of power by the commoners.
Capitalism - small percentage of private individuals have ownership over means of production
Capitalism is a term that describes a form of political and economic system in which private property ownership and free trade economy is encouraged among individuals of a country, which is driven by continual quest of profit and capital accumulation, exemplified in the terms of products and wealth.
Utopianism - Ideal society in which everyone is treated fairly and taken care of
Utopianism on the other hand is a term that explains an ideal society based on just laws and politics, and financial institutions that is dedicated solely on interest of the society, according to the Houaiss Dictionary. In other words, it is a term that describes the theoretical conflict-free society where every individuals is treated honestly.
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