The Role of Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Socialism is a political and economic theory of social organization that advocates for the means of production, distribution, and exchange is owned or regulated by the community as a whole. Write an essay comparing capitalism and socialism:

•Briefly define, in your own words, the concepts of capitalism and socialism.

•Identify three pros and cons of each.

•Examine the role capitalism plays in corporate decision-making.

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Capitalism vs Socialism Capitalism and socialism are the major economic and political systems adopted in different countries Shaw 2014 Capitalism is b... View the full answer