Study the disadvantages of producing goods and services under the capitalist system. What are the advantages that a socialist system can have in a society?

Study the disadvantages of producing goods and services under the capi

1.	Study the disadvantages of producing goods and services under the capitalist system. What are the advantages that a socialist system can have in a society?
Answer» SOLUTION :1. DISADVANTAGES: There are many weaknesses and disadvantages of producing goods and services. (i) The main motive of capitalist is to earn HUGE profit. They always think about their welfare. (ii) They produce low quality of goods to earn more profit. 2. Advantages of a Socialist SYSTEM (i) The distribution of wealth is equal under socialist system. (ii) All get employment. (iii) There is no distinction between the rich and the poor. (iv) This system leadsthe country towards progress.