USA HISTORY

Detailed explanation-1: -Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.

Detailed explanation-2: -Socialism is an economic and political system based on collective ownership of the means of production. All legal production and distribution decisions are made by the government in a socialist system.

Detailed explanation-3: -Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.

Detailed explanation-4: -Communism is an economic ideology that advocates for a classless society in which all property and wealth are communally-owned, instead of by individuals.

Detailed explanation-5: -In the other, socialism, the state owns the means of production, and state-owned enterprises seek to maximize social good rather than profits.