Defining Economys Defining Capitalism, Communism, Fascism, Socialism

Defining Economys Defining Capitalism, Communism, Fascism, Socialism

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Term Definition
Capitalism an economic system in which all or most of the means of production are privately owned and operated, and invested of capital and production,, distribution and prices of commodities(determined mainly in free markets then the state).
Socialism A state ownership of common property, or state ownership of the means of production.
Communism community ownership of property, with the end goal being complete social equality via economic equality.
Fascism a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.

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