Socialism: Means of production owned by government or community, Income equally distributed among all the community, Prices set by the government, Healthcare provided free or subsidized by the government, High taxes necessary to pay for public services, Government-owned businesses have less incentive for efficiency and innovation, Capitalism: Means of production owned by private individuals, Income determined by free market, Prices determined by supply and demand, Healthcare provided by private insurance, Limited taxes based on individual income, Free market competition encourages efficiency and innovation,

Socialism vs. Capitalism Group Match

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