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Different between socialisms and capitalism

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Different between socialisms and capitalism

    • Posted by Sahil Chettri 7 years, 1 month ago

    CBSE > Class 12 > Economics
    • 1 answers

    Yogita Ingle 7 years, 1 month ago

    Capitalism Socialism
    Capitalism refers to the economic system prevalent in the country, where there is private or corporate ownership on the trade and industry. The economic structure in which the government has ownership and control over the economic activities of the country is known as Socialism.
    Principle of Individual Rights Principle of Equality
    Innovation and individual goals Equality and fairness in society
    Each individual works for the creation of his own wealth Equally shared by all the people of the country

     

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