WORLD HISTORY

Detailed explanation-1: -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-2: -Key Takeaways. The primary difference between capitalism and communism emerges from the ownership of factors of production. In capitalism, it is owned by individuals, whereas in a communist nation, the ownership lies in the hands of the government.

Detailed explanation-3: -The system with the highest level of government control is communism. In theory, a communist economy is one in which the government owns all or most enterprises. Central planning by the government dictates which goods or services are produced, how they are produced, and who will receive them.

Detailed explanation-4: -In communist nations, government makes all economic decisions; owns the land, natural resources, industry, banks, and transportation system; and controls all mass communication.

Detailed explanation-5: -Communism is a political and economic ideology that positions itself in opposition to liberal democracy and capitalism, advocating instead for a classless system in which the means of production are owned communally and private property is nonexistent or severely curtailed.

Detailed explanation-6: -Classless society: Common ownership of all resources: Private property: Social equality: Against democracy: