What are the main differences between a capitalist (market-based) and socialist (command) economic system?

What are the features of the socialistic economy?

How does economic freedom (people have choices on how to spend their money), private property (you own and control your purchased goods), and profit motive all tie into our capitalistic system? Give an example of one product that satisfies all three things in your explanation.

Describe any four economic systems that you know of in your economy

Why does a modern capitalist economic system require the existence of markets?

Smith points out the possibility of producers contriving to raise prices. Are there other problems with the free-market system that he did not point out?

One of the famous Utopian Socialists, Robert Owen, disagreed with Adam Smith that self-interest would bring harmony of interest. Explain his viewpoint on the relationship between human character and their surrounding environment and the social revolution that he introduced in his New Lanark Mills in order to prove his theory.  Explain in brief why Marxian Socialism dismissed the moderate approach used by Utopian and Christian Socialism to eradicate the worst aspect of Capitalism

In planned economic systems, government agencies control both supply and price of the products.   True   or  False?

How do countries deal with the problem of wanting neither a pure market nor a pure command economy?

The list below describes characteristics of a type of economic system. Government regulates the factors of production for goods and services. Individual and business control some factors of production. Supply and demand determine more economic production. Private property rights with some government intervention.   Which economic system is most likely described by the list? Mixed-market economy Free-market economy Command economy Traditional economy