HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Socialism and communism are two words for the same ideology.
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Socialism and communism are two completely different and unrelated ideologies
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Communism is a form of complete socialism in which the people own all production and property.
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Communism gives control of a country to its people and socialism gives control of industry to the people.
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Detailed explanation-1: -Which of the following statements provides the most accurate comparison of socialism and communism? Both socialism and communism want to achieve a more equal distribution of income and wealth, but under communism, the government takes more control over people’s lives.
Detailed explanation-2: -In both communism and socialism, the people own the factors of economic production.
Detailed explanation-3: -Socialism and communism both place much value on creating a more equal society and removing class privilege. The biggest difference between them is that socialism is compatible with liberty and democracy, while communism depends on an authoritarian state to create an “equal society” that denies basic liberties.
Detailed explanation-4: -Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.