Answer: Which of the following statements about capitalism and socialism is correct? All of the responses are correct.
Explanation: Socialist nations are less economically productive. Capitalist nations have greater economic inequality. Capitalist nations are more economically productive. All of these statements regarding capitalism and socialism are true. Capitalism is an economic and political system where the trade and industry of a country are controlled by private owners for profit instead of the state having control. Socialism is an economic and political system where different organizations control production, distribution, and the exchange of goods and services.