WORLD HISTORY

Detailed explanation-1: -Communism is a form of government most frequently associated with the ideas of Karl Marx, a German philosopher who outlined his ideas for a utopian society in The Communist Manifesto, written in 1848. Marx believed that capitalism, with its emphasis on profit and private ownership, led to inequality among citizens.

Detailed explanation-2: -Socialism is a political philosophy and movement encompassing a wide range of economic and social systems which are characterised by social ownership of the means of production, as opposed to private ownership.

Detailed explanation-3: -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-4: -An early distinction between communism and socialism was that the latter aimed to only socialise production while the former aimed to socialise both production and consumption (in the form of free access to final goods).

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.