ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Communism is a classless social system with one form of public ownership of the means of production and with full social equality of all members of society.

Detailed explanation-2: -Communism is based on the goal of eliminating socioeconomic class struggles by creating a classless society in which everyone shares the benefits of labor and the state controls all property and wealth.

Detailed explanation-3: -The abolition of social classes and the establishment of a classless society is the primary goal of anarchism, communism and libertarian socialism.

Detailed explanation-4: -Communism is a political and economic system that seeks to create a classless society in which the major means of production, such as mines and factories, are owned and controlled by the public.

Detailed explanation-5: -A further basic distinction between the two systems is that whereas the capitalist system is inherently class ridden, in socialism, social relationships of common ownership and equality will end class divisions.