Hi People!

CAPITALISM-

  • It is a market based economy made up of buyers and sellers( private owned or co operate owned companies)




  • The government should not interfere in the economies of the free market, meaning the market determines investments, production, distribution and decisions and government is only allowed when making and enforcing rules and policies!


SOCIALISM-
  • The means of production are owned by the public enterprises or cooperatives( the state) and individuals are compensated based on the principle of individual contribution.




  • Economic activity and production by the central planning authority and based o human consumption and economic demands




AS A CITIZEN OF THIS COUNTRY DO YOU GUYS THINK THAT CAPITALISM IS BETTER THAN SOCIALISM? LET US KNOW WHAT YOU PEOPLE THINK ON THIS?