What is the basic difference between capitalist and socialist economy?

1.	What is the basic difference between capitalist and socialist economy?
Answer» $\huge\blue{Answer}$ The MAIN difference between capitalism and SOCIALISM is the extent of government intervention in the economy. A capitalist economic system is characterised by private ownership of assets and BUSINESS. A capitalist economy relies on free-markets to determine, price, incomes, WEALTH and distribution of goods. *Hope* it *helps* *you* *mark* as *BRAINLIEST* *please*

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$\huge\blue{Answer}$

The MAIN difference between capitalism and SOCIALISM is the extent of government intervention in the economy. A capitalist economic system is characterised by private ownership of assets and BUSINESS. A capitalist economy relies on free-markets to determine, price, incomes, WEALTH and distribution of goods.

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What is the basic difference between capitalist and socialist economy?​

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What is the basic difference between capitalist and socialist economy?