Asked by Mabotho Tshabalala on Sep 23, 2024

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​The difference between Capitalism and Socialism is that

A) ​Capitalism is concerned more about how to slice up the "pie"
B) Socialism is concerned with making the "pie" as large as possible
C) Capitalism is concerned with making the "pie" as large as possible
D) ​Both A and B

Capitalism

An economic system characterized by private ownership of the means of production and their operation for profit.

Socialism

A political and economic system where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

  • Understand the fundamental differences between capitalism and socialism.
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CF
Collin Floyd3 days ago
Final Answer :
C
Explanation :
Capitalism focuses on creating wealth and maximizing profits, which ultimately leads to the growth of the economy and an increase in the size of the "pie". Socialism, on the other hand, emphasizes equitable distribution of resources and promoting the common good, but it can potentially limit innovation and economic growth. The key difference between the two is their approach to generating economic prosperity: Capitalism prioritizes economic growth to benefit society as a whole, while socialism prioritizes social equality and reducing economic inequality.