Answer:
1. A
2. D
3. D
4. C
5. A
6. C(?)
Explanation:
1.Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
2.Socialism is an economic system where everyone in society equally owns the factors of production. 1 That ownership is acquired through a democratically elected government or through a cooperative or a public corporation in which everyone owns shares.
3 and 4.Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.
5.In a capitalist economy, the role of government is very limited. The main functions of government, as given by Adam Smith, are to maintain law and order in a country, make national defense stronger, and regulate money supply. According to Smith, the market system administers various economic functions.
6. Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.
