Final answer:
Capitalism is characterized by private ownership and economic capital determining social classes, whereas socialism aims for less pronounced social classes through distribution based on needs. Communism seeks to abolish classes with collective ownership of resources.
Step-by-step explanation:
Capitalism, socialism, and communism represent the major economic systems that have shaped societies throughout history. These systems, while distinct in their ideologies and applications, all present different approaches to dealing with the distribution of resources, goods, and services.
Under capitalism, social classes are mainly determined by economic capital, which involves individuals' or entities' acquisition and control over production and capital. Capitalism is characterized by private ownership and the free market, where goods and services are distributed based on demand and supply, leading to different wealth levels and social stratifications.
Under socialism, social classes are supposed to be less pronounced as the system aims for a more equal distribution of goods based on people's needs. This distribution is often facilitated by a governing body that controls the means of production, although private property ownership can still exist.
Under communism, in theory, social classes would be abolished, as the community collectively owns all property and means of production. The ideal goal is a classless society where goods and resources are distributed according to individual needs, without private ownership.