In terms of production, what best describes the difference between capitalism and socialism?

1 Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

2 Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.

3 Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.

Capitalism is a system in which government should "plan" the economy, but socialism stresses that free market dictates production.

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Pamela Ballard

25 March, 15:35

In terms of production, what best describes the difference between capitalism and socialism?

1 Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.

2 Capitalism is a system in which the government controls production, but socialism stresses production by private businesses.

3 Capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.

Capitalism is a system in which government should "plan" the economy, but socialism stresses that free market dictates production.

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The answer to this question is A. Capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production.