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Define capitalism and socialism and provide examples of countries for both structures.

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Answer preview to Define capitalism and socialism and provide examples of countries for both structures.

Countries use capitalism and socialism as economic and political systems tomanage resources and regulate the means of production. However, today, few countries can be purely one or the other. Under capitalism, individuals and private organizations own the means of production. The means of production entail resources that include money and other forms of

Last Updatd: 10 Aug,2023