Communism system of political and economic organization in which property is owned by the state or community and all citizens share in the common wealth, more or less according to their need.

Capitalism Economic system characterized by the following: private property ownership exists; individuals and companies are allowed to compete for their own economic gain; and free market forces determine the prices of goods and services. Such a system is based on the premise of separating the state and business activities. Capitalists believe that markets are efficient and should thus function without interference, and the role of the state is to regulate and protect.