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How does capitalism differ from
socialism and communism?
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- How did capitalism change lives for the better? How did it impact lives negatively? In what ways has capitalism played out well, and in what ways has it failedWhat are the types of economic systems? How will you differentiate Command from a Market economy?What did Adam Smith predict would happen if economic individualism were allowed to operate in a country?
- Why do you think that most modern countries’ economies are a mix of command and market types?which economic system did Ayn Rand claim was the best to support her theory? a. socialism b. capitalism c. democracy d. the state of naturewhat theory is biased on the idea that two economic systems capitalism and socialism will eventually adopt features of the other until there is a hybrid economic system in all societies?