Business and Management Class Differences Between

These people basically sell their ability to work for a wage or salary. They own the group that produce and distribute goods. The working class Is then paid to produce goods and services which are then sold for profit. This profit goes to the capitalism class because; they can make more money selling what the working class has made. The capitalist live off the profits the working class produces and make reinvestment on their profits to make more money. In capitalism the motive for producing goods is to sell them. They don’t care if they satisfy the people’s needs.

They just want to sell and make money. The government is allowed to change the rules at any time. The state doesn’t directly give jobs so in times of a recession the unemployment levels can be very high. Jean Pall’s Response: A socialist economic system is an economic system based on state ownership of capital. It has a high tax rate and provides free education, welfare for everyone, universal healthcare, and social security. It supports workers’ rights and freedoms over business profits and gains. Belgium is a socialist economic system. This system is based upon the welfare of the people.

All people are given equal opportunities to succeed. Capitalism is not concerned about equity. Rather than the workers having no say, in the economic system, the workers will have say in the factories management. Everyone is given equal shares of the benefits that are produced from the hard labor. People earn more if they work harder. Unlike in the capitalism system, which only motive is to sell, sell, sell, and not look at the needs and benefits of others, our systems number one objective is to make the customer testifies and the product to be very useful to them and their household.

The state will own the means of production rather than the government. Employment Is directed by the state. Business and Management Class Differences Between Capitalist and a Socialist Economy By Reintroduction is considered a free market economy. The U. S has a Capitalist system. Capitalism is a social system based on the recognition of individuals rights, including property rights in which all property is privately owned. There are two classes of capitalism. One is he capitalism class and the other is the working class.