Question

Capitalism, Socialism, and Communism are all economic and political theories developed in the 1700-the 1800s. IN YOUR OWN WORDS describe how they are different in 3 complete sentences.

Answer 1

Answer:

1. At its most basic, communism is a philosophy based on the equitable distribution of wealth among a nation's citizens and common ownership of all property. In particular, it called for the control of the means of production, such as manufacturing and agriculture, by the working class, or proletariat.

2. Socialism encompasses a broader spectrum of political beliefs but shares communism's emphasis on a fair (if not necessarily equal) distribution of wealth among citizens, as well as public ownership of the means of production (though not necessarily all of them). In that sense, socialist programs and policies can exist alongside capitalismin a society.

3. 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.

Explanation:

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