SOCIALISM:

a) Practical in nature.
b) an economic system wherein all the means of
production are owned by the public.
c) aims at the co-operative system of control over
the means of production.
d) It aims at the elimination of hierarchy in the
management of political affairs.
f) A kind of political thought though its ideas are based more on the economic issues of the
development of society.
g) aims at the achievement of the state of production for use.
h) the allocation inputs are carried out in the right manner to satisfy human needs.
i) speaks about the public ownership of the property and natural resources.
j) In socialism, such class discrimination is not possible as the means of production are owned by the
public.
k) In Socialism, market competitiveness does not exist as the society is made for collaboration, not for
competition.
L) It aims at the elimination of hierarchy in the management of political affairs
m) Socialism speaks of an economy that is fair to all.

COMMUNISM:
a) Marxism is more theoretical in nature.
b) speaks about creating a society where there is no discrimination between rich and poor.
c) speaks about changing the society through a proletariat revolution.
d) Marxism proletariat revolution becomes possible because there is an imbalance between social
classes.
e) In a society where Marxism theory of working class rising against the bourgeoisie happens, there is
a largely competitive market.
f) Marxism is pure revolution
g) Building equality between rich and poor is essential in a society where Marxism can take
place because the bourgeoisie exploits the workers.
h) Marxism has its ideology based on the thought about the uplift of the poor and the granting of a
status to them on par with the rich.
I) Marxism speaks how a proletariat revolution can change the social structure.