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Im terms of production what best describes the difference between capitalism and socialism

User TruLa
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2 Answers

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Capitalism frames production around supply and demand. The greater demand means increased supply and vice versa. Socialism is more collective in orientation and is not based on supply and demand.

User Akshay Dhalwala
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The correct answer is: Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

User Shufler
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