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InterviewSolution
| 1. |
Expalin the Capitalist & Socialists Economy. |
| Answer» The capitalist model of development in which\xa0development was left entirely to the private sector\xa0in place of social welfare. The Capitalist affords economic freedom, consumer choice, and economic growth.The socialist model of development in which private property was abolished and all the production was controlled by the state. It aims at the\xa0public\xa0sector, planning to establish an\xa0egalitarian society. The Socialist model provides greater social welfare and decreases business fluctuations. | |