Question

Which of the following is a difference between capitalism and socialism?

In capitalism, the government controls the economy; in socialism, the
economy consists of competition, and government stays out of it.
Under capitalism, things like land and industries are privately owned; under
socialism, they are owned by everyone (often through the government).
Under capitalism, individuals work together for the good of society; under
socialism, individuals compete with one another for profits.
A capitalist economy is entirely industrialized, while a socialist economy is
only found in horticultural and agricultural societies.

Answer 1

Capitalism and socialism differ in terms of government control, ownership, and individual motivation.

Step-by-step explanation:

A difference between capitalism and socialism is that in capitalism, the government does not control the economy, while in socialism, the government plays a larger role in the economy. In capitalism, private individuals own things like land and industries, whereas in socialism, these are commonly owned by everyone, often through the government. Additionally, in capitalism, individuals typically work for their own profit, whereas in socialism, there may be more focus on working together for the good of society.

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