Question

"Communists called for an economic system in which the wealth of a society would be__________________—quite a contrast to capitalism, in which ______________ and businesses own wealth and________________________."

Answer 1

A) Controlled primarily by the government

B) Individuals

C) Capital/Property

Step-by-step explanation:

Communism and Capitalism are both economic and political systems.

The primary difference between both is that whilst all resources which can be used to create wealth is controlled by the government in the first system, the second system features a decentralization of such powers. In capitalism, the market forces is allowed to drive the economy.

In the communist system, all factors of production belong to and are controlled by the government.

Countries that practice pure capitalism include but are not limited to:

• Hong Kong
• Switzerland
• Australia
• Canada
• Chile
• Ireland etc

Examples of Capitalist countries are:

• North Korea

• Cuba and

• The former Soviet Union

There also nations that draw principles from both types of systems thus making them a mixed exonomy.

A perfect example of that would the Peoples Republic of China.

Cheers