USA HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -Communism. Communism is a centralized form of government led by a single party that is often authoritarian in its rule.

Detailed explanation-3: -Socialism is an economic and political system based on public or collective ownership of the means of production that emphasizes economic equality.

Detailed explanation-4: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.