Explain the difference between capitalism, democratic socialism and communism

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History

Lamar Mckee

20 January, 02:28

Explain the difference between capitalism, democratic socialism and communism

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Denise Mercer · Answer 1

The major difference between the two is with regard to resources and production means. In capitalism, the resources and means of production lies with the private owner while in the communism, they are owned by community or society. Capitalism: You have two cows ... Socialism: You have two cows.