Question

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Explain the difference between capitalism and communism. What role does the government play in each type of economic system?

Answer 1

capitalism is based on the principle of individual rights, a free market economy, an uneven distribution of wealth and very little government interference

Communism is based on the principle of community rights, controlled economic production

Answer 2

Capitalism and communism are different in their political and economic ideologies. ... While capitalism is a self regulated economic system,communism is a government ... Capitalism can be said to be the exploitation of the individual. While every one is equal in communism, there is a great divide of the class in capitalism.