Which of the following is the best example of a key difference between capitalist and socialist economies.

Question

Group of answer choices

Capitalist economies push for perfect equality between all people; socialist economies encourage a great deal of inequality among people

In capitalist economies, religion plays a strong role in all business ownership; in socialist economies religion plays no role in business ownership

In capitalist economies, the government doesn't interfere too much with business ownership; in socialist economies the government owns or runs most businesses.

In capitalistic economies, competition between businesses is kept to a minimum; in socialist economies there is a great deal of competition among businesses

Answer 1

The best example of a key difference between capitalist and socialist economies from the options provided is:

In capitalist economies, the government doesn't interfere too much with business ownership; in socialist economies the government owns or runs most businesses.

This statement accurately reflects a fundamental distinction between the two economic systems, where capitalism emphasizes private ownership and minimal government intervention, while socialism involves significant government control or ownership of resources and businesses.