WORLD HISTORY

Detailed explanation-1: -What is communism? 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: -The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.

Detailed explanation-3: -A communist state, also known as a Marxist–Leninist state, is a one-party state that is administered and governed by a communist party guided by Marxism–Leninism.

Detailed explanation-4: -Communism is an economic system where the group owns the factors of production. The factors of production are labor, entrepreneurship, capital, and land. 1 Although the government doesn’t legally own the labor force, the central planners tell the people where they should work.

Detailed explanation-5: -In brief, Communism backs full control of the Government across all standards of production and other resources. Socialism exercises adaptable forms of controlling the State. Capitalism supports a free market and overall economy without the involvement of the State.