Question

sq 11. what is the difference between capitalism, socialism, and communism?
task 1: identify and explain a similarity or difference between the social classes under capitalism, socialism, and communism. be sure to include evidence from the chart in your response.
task 2: identify and explain a similarity or difference between the goals of capitalism, socialism, and communism. be sure to include evidence from the chart in your response.
task 3: identify and explain a similarity or difference between business ownership in capitalism, socialism, and communism. be sure to include evidence from the chart in your response.
unit 10.3 | causes and effects of the industrial revolution

Explanation:

Capitalism is based on private - ownership of the means of production and profit - maximization. Socialism emphasizes collective or state - ownership of key industries and aims for more equal distribution of wealth. Communism advocates for common ownership of all property and the elimination of social classes, with each person contributing according to ability and receiving according to need. Evidence could include historical examples of countries operating under these systems and their economic and social structures.

Answer:

In capitalism, business ownership is predominantly private, aiming for maximum profit. In socialism, there can be a mix of private and state - owned enterprises, with a focus on social welfare and more equal distribution. In communism, business ownership is communal, with the goal of meeting the needs of all without class distinctions.