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what are the characteristics of capitalism and communism?​

Sagot :

Renkneeidn

Answer and Explanation:

Capitalism:

  • based on individual rights
  • economic system where trade and industry is owned privately by individuals to make money
  • promotes differences within individuals based on their "class"
  • countries with Capitalism usually have a Democracy
  • individuals can freely choose their job
  • profit/wages depend on an individual's willingness to put in work/effort
  • Example: USA, Canada

Communism:

  • based on community rights
  • economic system where trade and industry is controlled by the entire community, money is shared based on an individual's abilities/needs
  • promotes egalitarianism
  • countries with Communism usually support Totalitarianism
  • the state determines an individual's job/employment
  • states provides all resources; businesses are owned by the state
  • Example: (formerly) Soviet Union and (formerly) China during the Cultural Revolution

Have a lovely rest of your day/night, and good luck with your assignments! ♡

 ~ ren

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