Expalin the Capitalist & Socialists Economy.
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Sia ? 6 years, 5 months ago
The capitalist model of development in which development was left entirely to the private sector in place of social welfare. The Capitalist affords economic freedom, consumer choice, and economic growth.
The socialist model of development in which private property was abolished and all the production was controlled by the state. It aims at the public sector, planning to establish an egalitarian society. The Socialist model provides greater social welfare and decreases business fluctuations.
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