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The major differences between capitalism and socialism are established around the role of the government and equality of economics. Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the central state, provides for a greater social welfare and decreases business fluctuations.



One of the bigger advantages to capitalism is consumer choice, which not only lets people decide what they want, but also leads to more competition among companies, which in turn leads to better products and service. Another point is that goods and services that are produced based on consumer choice create incentives to cut costs and avoid unnecessary waste.



Now, some of the disadvantages of capitalism is a chance of a monopoly of companies with monopoly power, which means they can abuse their power and charge higher prices than what was originally charged. Another disadvantage is inequality, if a capitalist society is based on the right to pass down wealth from generation to generation, and only a small group of people are holding onto the wealth, it continues to be passed down to the same small group of individuals. In turn, social inequality and social division take place.



A big advantage of socialism is that the citizens are equals and the wealth that is earned by employees is distributed equally among people. Not only that, but the government insures fairness in resources, utilization and distribution. Socialism also diminishes class distinctions, so there is no longer middle class, lower class, or higher class, and all of peoples basic needs are met in a socialist economy including but not limited to, shelter, education, and healthcare.



The disadvantages of socialism include, government inefficiencies, when the government owns all of the resources, workers can lack the motivation or incentives to work hard. When people are working for the state or a business they typically are trying to move higher up in the company, and earn more money by getting promoted. When there is no motivation for a greater reward, people can lose the incentive to work as hard as they once did. Another disadvantage is higher taxes, which may decelerate economic growth.



In conclusion, I believe that capitalism provides a greater benefit to society. Not only is consumer choice important but so is economic growth. Though there may be some downsides to capitalism, like monopolies. In my opinion, it benefits the people greatly and gives people freedom to choose.

Overall, your paper covers the major differences between capitalism and socialism and presents some advantages and disadvantages of each economic system.

However, there are a few areas where you might want to consider making some improvements:

1. **Provide Clear Definitions:** In the opening paragraph, consider providing more precise definitions of capitalism and socialism. You mention "economy controlled by the central state" for socialism, which is one aspect of socialism but not the whole definition. Similarly, clarify what you mean by "economic freedom" in capitalism and how it relates to consumer choice and economic growth.

2. **Supporting Evidence:** To strengthen your arguments, consider incorporating more concrete examples or statistical data to support your points. For instance, you mention that capitalism leads to better products and services due to consumer choice, but including specific examples of successful competition driving innovation would make your point more convincing.

3. **Address Counterarguments:** To make your paper more well-rounded, acknowledge and address potential counterarguments. For example, in your section on socialism, you mention that the government ensures fairness in resource distribution. However, some critics argue that central planning can lead to inefficiencies and misallocation of resources, so it's essential to acknowledge such perspectives.

4. **Elaborate on Socialism Advantages:** In the section discussing the advantages of socialism, you focus on equality and meeting basic needs. While these are important points, consider expanding on other potential advantages, such as collective decision-making, reduced income inequality, and the potential for a more stable economy.

5. **Neutral Tone:** It's important to maintain a neutral tone in academic writing. Avoid phrases like "I believe" and "in my opinion." Instead, state the arguments objectively, and let the evidence and analysis speak for themselves.

6. **Conclusion:** In the conclusion, briefly summarize the main points discussed in the paper without introducing new information. Avoid using phrases like "I believe" and focus on reiterating the key points you made.

Remember to cite your sources if you used any references in your paper and proofread carefully for grammar and clarity. Overall, your paper is a good starting point, and with some improvements and further elaboration, it can become even stronger.

To know more about capitalism:

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The preamble to the United States Constitution reflects which concept outlines by the Declaration of Independence?

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a. speaker of the house


b. secretary of state


c. FBI director


d. attorney general

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David Greenglass
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Harry Gold

Evaluating information sources is a skill that can be used over the course of a lifetime for any personal or professional need.


True


False

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After World War I, U.S. industries focused on:
A. Selling goods to American consumers.
O B. Promoting regional differences.
C. Improving trade with Europe.
D. Decreasing consumerism.

What does this event tell you about the protest movement in general?

The Hutterites were settled in:

Primavera
Filadelfia
Asuncion
Encarnacion

and

The Mennonites settled in:

Filadelfia
Encarnacion
Asuncion
Primavera

How did the immigration act of 1965 change u. S. Immigration policy?.

will give 100 points


Imagine you are a youth living in the transition zone. If you are female, you dress in the traditional colorful clothing worn by women (a blouse, a wraparound skirt, and a headdress made from a long winding cloth). If you are male, you wear a round, closely fitting hat and a shirt and slacks beneath a flowing robe. You come from a rural village in the state of Oyo and belong to a traditional African religion. Now imagine living out one of the following scenarios. Describe your thoughts in a story three or more paragraphs in length.
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Who was the United States commander of the Allied forces in Europe? Eisenhower Truman Churchill MacArthur

Which did President Carter do in his attempt to free American hostages taken by Iran?

What nation did Joseph Stalin lead?

5.02: Constitutional versus Absolute Monarchies
-What are the differences between absolute monarchs and constitutional monarchs?




-Why might an absolute monarch claim divine right?


-In what part of Europe were absolute monarchies more popular? Why do you think that was?


-What pushed citizens to replace their absolute monarchies with constitutional monarchies?



-What is the most common way that citizens were able to change their absolute monarchies into constitutional monarchies?



-What was happening in England during the late 1680's?








5.03: The Scientific Revolution
-How did the idea of humanism lead to the Scientific Revolution?


- Why did the Church think that science was a challenge to their authority?


-Describe the main achievement of each male scientist:
-Ptolemy:

-Copernicus:

-Galileo:

-Keplar:

-Bacon:

-Descartes:

-Newton:

-Describe the main achievement of each female scientist:
-Ana de Osorio:

-Margaret Cavendish:

-How did the work of Andres Vesalius and William Harvey change our understanding of the human body?



5.04: Modern Science
-Describe 4 Innovations, Ideas, or Inventions in Modern Science: (Include the scientist responsible)





5.05: The Age of Enlightenment
-What were 3 events or ides that lead to the Enlightenment?
1)

2)

3)

-Describe the main idea of each philosopher:
-Thomas Hobbes:

-What is a social contract?:

-John Locke:

-David Hume:

-Adam Smith:

-Baron de Montesquieu:

-Denis Diderot:

-Voltaire:

-Jean-Jacques Rousseau:

-What were some of the effects of the Enlightenment? Include at least 3


5.06: Developing a National Identity
-Describe three causes for the French Revolution:
1)


2) The Enlightenment and American Revolution:


3)


-Describe three events during the French Revolution:
1)


2)


3) Committee for Public Safety and the Reign of Terror:


-Describe three effects of the French Revolution:
1)


2)


3) Napoleon Bonaparte:


-What did Napoleon do once he was in power?


-How did Napoleon lose power?

The entombment by pontormo above the altar in capponi chapel in florence. people in bright colored clothes hold jesus after he comes off the cross. what are some of the inconsistencies depicted in entombment? (above) a. the use of colors does not have reason. b. some of the figures are pressed into the foreground, while others seem to levitate. c. it is not clear what scene is depicted in this image. d. all of the above

Describe some of the characteristics of the Middle Ages. give 3 ways

Who from the United States did Hitler attract?​

Which of the following words are synonyms and which are antonyms for the word disappearing? Drag each word to the correct group. HELP PLSSSSSSSSSSSSSSS ILL GIVE BRAINLIESTTTTT

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were entitled to trial by jury.
were not allowed to testify in court.
could make their case to a judge.
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C
This symbol represents which monotheistic religion? (5 points)