This isn’t for school or anything but frfr can someone tell me what the absolute heck is capitalism and socialism and communism and all that stuff bc I’m reading in history rn and it just came to mind lol

Capitalism is a system in which private individuals or private businesses own capital goods. Socialism is a economic theory of social organization that states that the means of making, moving, and trading wealth should be owned or controlled by the workers. Communism is a political movement, whose goal is to set up a version of society where the factories and farms are shared by its people.

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