Capitalism and communism are two different economic systems. Capitalism is an economic system where private entities own the factors of production. The production of goods and services is based on supply and demand in the general market. On the other hand, communism is a system where the community or state owns the factors of production. In this system, all property is public and people work and are given things by the government and according to their needs.
Economics can be intimidating to the person who is not well-versed in business and mathematics. This...
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