Question

How are capitalism and socialism different

Answer 1

Answer: Capitalism is competition of business. Where business can make there own source of income. And not have the government have people pay high taxes.

Socialism is where the government makes people pay high taxes and they say you get this even if you do not want it.

Answer 2

The main difference between capitalism and socialism is the extent of government intervention in the economy. A capitalist economic system is characterised by private ownership of assets and business. A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods.

Step-by-step explanation:

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