What is the difference between Capitalism and Socialism?

What has been a centuries-long debate in economic systems?

• Capitalism vs. Socialism

• Socialism vs. Democracy

• Capitalism vs. Monarchy

• Feudalism vs. Capitalism

What is the primary goal of capitalism?

• To generate profits for owners

• To distribute resources equally

• To control all businesses by the state

• To promote social welfare

How are prices and wages determined in a capitalist system?

• By the government

• By community needs

• By supply and demand

• Equally for everyone

How does socialism aim to distribute resources?

• According to need

• Based on individual effort

• According to market forces

• Through competition

Which system argues for wealth distribution based on need?

• Socialism

• Anarchism

• Capitalism

• Liberalism

What role does the government play in a capitalist economy?

• Distributes all resources

• Controls all businesses

• Ensures the rule of law

• Directs the economy

Which system is said to potentially lead to less innovation?

• Monarchy

• Socialism

• Democracy

• Capitalism

Which economic system values individual freedom and autonomy?

• Oligarchy

• Feudalism

• Capitalism

• Socialism

What is emphasized more in socialism compared to capitalism?

• Profit maximization

• Collective good

• Competition

• Individual freedom

What is a key feature of mixed economies?

• Complete freedom of market

• Combination of capitalism and socialism

• Sole focus on profit

• Absence of government