A difference between capitalism and socialism is that:

Question

A) ?socialism is based on private ownership of property; capitalism is based on collective ownership of property.
B) ?in capitalism, profits are accumulated by the state; in socialism, individuals accumulate profits.
C) ?in capitalism, the state is responsible for economic planning; in socialism, the state is not involved in economic planning.
D) ?capitalism focuses on providing social services to people; socialism places more importance on competition than providing social services.
E) ?socialism forbids private profits that are fueled by greed and exploitation of workers; exploitation of workers is common in the capitalist system.

Answer 1

E