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Author Question: Compare capitalism and socialism in terms of ownership of the means of production, competition, and ... (Read 83 times)

big1devin

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on: Jul 2, 2018
Compare capitalism and socialism in terms of ownership of the means of production, competition, and the profit motive.
 
  What will be an ideal response?

Question 2

The region of the United States that has the most poverty is the
 
  a. South.
  b. North.
  c. West.
  d. East.
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matt

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Reply #1 on: Jul 2, 2018
Answer to Question 1

Ownership of means of production: in capitalism, byindividuals; in socialism, by the public. Competition: in capitalism, used to determine production and set prices; in socialism, central committees plan production and set prices, and there is no competition. Profit motive: in capitalism, the pursuit of profit is the reason for distributing goods and services; in socialism, there is no profit motive in the distribution of goods and services.

Answer to Question 2

a. South.


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