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In terms of production, what best describes the difference between capitalism and socialism?

In terms of production, what best describes the difference between capitalism and socialism?
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In terms of production, what best describes the difference between capitalism and socialism?

User AndrewC
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2 Answers

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The difference is that in capitalism, goods are made by private businesses, and in socialism, government has control over production
User Kaz
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2 votes
Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.
User Thoth
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