Asked by Siamanta Nthumba on May 01, 2024
Verified
Capitalism and socialism are two examples of political systems throughout the world.
Capitalism
An economic system based on the private ownership of the means of production and their operation for profit.
Socialism
An economic and political system where the means of production are owned and controlled by the public or the state, with the goal of distributing wealth and resources more evenly across society.
- Comprehend the concepts of capitalism, socialism, and political systems in a global context.
Verified Answer
AK
Aayushi KasliwalMay 04, 2024
Final Answer :
False
Explanation :
Capitalism and socialism are primarily economic systems, not political systems. They describe how a country's economy is organized in terms of production and distribution of goods and services.
Learning Objectives
- Comprehend the concepts of capitalism, socialism, and political systems in a global context.
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