Question

Which of the following statements accurately describes a difference between capitalism and socialism? (S8)

a
A capitalist economy is organized by a central government planning authority
b
Socialism does not promote individualism but likely provides greater social welfare
c
Socialism encourages private ownership of production in an economy
d
Socialism offers consumers greater choice and limits state intervention in the economy

Answer 1

Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

Also correct:

Socialism does not promote individualism but likely provides greater social welfare.

Step-by-step explanation: