Question

Make a comparison between the government’s roles in a capitalist economic system versus a socialist or communist economic system.

Answer 1

Answer:

see below

Explanation:

In a capitalist economy, the government does not interfere with the economic activities in the country. Its role is minimal and mainly regulatory. It ensures fair play and protects the workers' and customers' interests. The government may also engage in the provision of public goods and services.

In a socialist economy, the government makes all the economic decisions. It produces and distributes of all goods and services. The government makes a central plan that determines what is to be produced, the quantity, and their prices. Almost all the factors of production are controlled and owned by the government.