Answer:
Answer explained below.Step-by-step explanation:
1. Capitalism is an economic system that is based on the private ownership of the means of production, distribution, and exchange of goods and services. In capitalism, the goal is to generate profit through competition and the free market, where supply and demand determine the prices of goods and services. The United States is an example of a country that operates under a capitalist system. While the capitalist system has led to significant economic growth and innovation, it has also resulted in income inequality and exploitation of labor in some cases.
2. Social Democracy / Democratic Socialist is an ideology that combines the principles of democracy and socialism to achieve a more equitable distribution of wealth and power. In a social democratic society, the government provides essential public services, such as healthcare, education, and social welfare programs, while also promoting private enterprise and individual freedoms. Nordic countries, such as Norway, Sweden, and Denmark, are examples of social democratic societies. These countries have consistently ranked highly on measures of happiness, equality, and overall well-being, suggesting that the social democratic model can be successful.
3. Communism is a political and economic ideology that seeks to establish a classless society where the means of production are owned and controlled by the community as a whole. Under communism, the government is responsible for planning and managing the economy, with the ultimate goal of creating a society where everyone's needs are met. China and Cuba are examples of countries that have adopted communist systems, although China has moved toward a more capitalist economy in recent years. While communism has had some success in achieving social and economic equality, it has also been criticized for being authoritarian and limiting individual freedoms.