Question

In terms of production, what best describes the difference between capitalism and socialism? capitalism is a system in which goods are made by private businesses, but socialism stresses government control over production. capitalism is a system in which the government controls production, but socialism stresses production by private businesses. 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.

Answer 1

In terms of production, the major difference between capitalism and socialism is that capitalism is a system in which people pursue their own self-interests, but socialism stresses an equal distribution of wealth.

What Is Capitalism?

Capitalism is an economic theory which describes the situation where the factors of production are firmly under the control of the private sector.

Basically, the capitalist market is driven by the law of demand and supply.

Socialism on the other hand is an economic principle where the factors of production are under the care of the community and each citizen is given only what he or she need at a time.

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Answer 2

Answer:

A

Explanation: