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What is the primary difference between the principles of capitalism and socialism?

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User Hilalkah
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2 Answers

6 votes

Answer:

capitalism is about success of the individual

socialism is about success of the community

Step-by-step explanation:

answered
User Khadine
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3 votes

Answer:

Capitalism tends to be associated with a free or a mixed market and places great importance on private ownership of property, giving businesses a great deal of freedom.

Socialism, while allowing for some private ownership, tends to place many more regulations on businesses, restricts some individual rights to private ownership, and typically has some government-dominated industries, such as transportation.

Step-by-step explanation:

Straight from Edmentum! <3

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User Eric Hammond
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