Communism and socialism are economic and political structures that promote equality and seek to eliminate social classes. ... Like communism,socialism's main focus is on equality An economic and political system characterized by a free market for goods and services is called capitalism

Definition of Socialism:

Socialism is an economic and political ideology that advocates for the collective ownership and control of the means of production and distribution of goods and services. In a socialist system, resources and wealth are shared and allocated according to the needs of the society as a whole.

Key Principles of Socialism:
- Collective Ownership: Socialism promotes the idea of public ownership of resources, industries, and infrastructure. Instead of private individuals or corporations owning and controlling these assets, they are owned and managed collectively by the government or the community.
- Equitable Distribution: Socialism aims to achieve a more equal distribution of wealth and resources. By prioritizing the needs of the society, socialism seeks to provide basic necessities, such as healthcare, education, and housing, to all members of the community.
- Central Planning: Socialist economies often involve centralized planning by the government, where production decisions, resource allocation, and economic policies are determined by a central authority. This central planning aims to ensure the efficient utilization of resources and the fulfillment of societal needs.

Definition of Communism:

Communism is a political and socioeconomic ideology that advocates for the establishment of a classless society, where all property and resources are collectively owned by the community or the state. In a communist system, there is no private ownership, and the means of production are used for the benefit of the entire society.

Key Principles of Communism:
- Classless Society: Communism aims to eliminate social classes and the associated disparities in wealth and power. It envisions a society where everyone is equal and there is no exploitation or oppression.
- Common Ownership: In communism, all resources and means of production are commonly owned and controlled by the community or the state. There is no private property, and the fruits of labor are shared equally among all members of society.
- Revolutionary Change: Communism often advocates for a revolutionary overthrow of the existing capitalist system. It believes that through a revolution, the working class (proletariat) can seize power from the ruling class (bourgeoisie) and establish a communist society.

Definition of Capitalism:

Capitalism is an economic system characterized by private ownership of resources and means of production, where individuals and businesses operate for profit. In a capitalist system, the production and distribution of goods and services are largely determined by market forces of supply and demand.

Key Principles of Capitalism:
- Private Ownership: Capitalism emphasizes private ownership of resources, industries, and property. Individuals and companies have the right to own and control their assets, and they can use them to generate profit.
- Profit Motive: In capitalism, the pursuit of profit is a central driving force. Individuals and businesses are motivated to engage in economic activities to maximize their profits and accumulate wealth.
- Free Market: Capitalism relies on free market competition, where prices, wages, and production decisions are determined by the interaction of supply and demand. The role of government in the economy is often limited, allowing market forces to guide economic activities.

Overall, socialism, communism, and capitalism represent different economic and political systems, each with its own set of principles and goals. While socialism and communism emphasize collective