distinguish between socialism and capitalism those who give wright answer who has chance to A brainlist
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distinguish between socialism and capitalism those who give wright answer who has chance to A brainlist
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Socialism is an economic system where the means of production, such as money and other forms of capital, are owned by the state or public. Under a socialist system, everyone works for wealth that is in turn distributed to everyone. Under capitalism, you work for your own wealth.
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Capitalism affords economic freedom, consumer choice and economic growth.
Socialism which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuation.
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