Question

Explain one major difference between the two systems of capitalism and communisn

Answer 1

One major difference between capitalism and communism is who/what the economy is controlled by. In capitalism, the economy (trade and industry) is controlled by private individuals to make a profit. In communism, the economy (trade and industry) is controlled by the community, and the share of the profit for an individual depends on their ability and needs.

Step-by-step explanation:

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Answer 2

capitalism based on individual and favour market mechanisms over government intervention whereas

communism based on government planning and limitations on private control of resources.