Socialism vs. Capitalism

Socialism vs. Capitalism

Capitalism

Capitalism is an economic system under which the trade and the industry of the country is regulated privately for means of profit; rather than by the state. The two main components of capitalism are explained as follows:

Free Market

Free market is an economic system in which the prices of the services and goods are set without any government intervention, but are decided by the forces of supply and demand. Further they are allowed to reach their equilibrium point without the interference of the government and its policies.

2.Mixed Economy

Mixed economy means that the economy is based on the market ...