Question

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is capitalism DIFFERENT from communism?
In capitalism, the country uses land to make goods. In communism, the country uses labor to make
goods.
In capitalism, businesses are owned by people. In communism, businesses are owned by the
govemment.
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In capitalism, people share wealth equally. In communism, there is a big gap between rich and poor.
In capitalism, prices are set by the government. In communism, prices are set by how much of
something there is.

Answer 1

This answer explains the differences between capitalism and communism, including their ownership structures, wealth distribution, and price determination.

Step-by-step explanation:

Capitalism vs Communism

Capitalism and communism are two different economic systems with distinct characteristics.

In capitalism, the production of goods and services is primarily driven by private individuals and businesses. Land and capital are utilized to create goods, and businesses are generally owned by individuals or private entities. Wealth distribution is not equal, and there is a significant wealth gap between the rich and the poor. Prices in capitalism are usually determined by market forces of supply and demand.

In communism, the means of production, including land, resources, and businesses, are owned and controlled by the government. The focus in communism is on collective ownership and equal distribution of wealth to eliminate social classes and the wealth gap. Prices are often set by the government based on the availability of resources and the needs of the population.

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