What kind of country system is operated in your country? Capitalism or socialism

Alot of things is happening in our country and the rich are really leveraging on the poor, building different corporations and the poor works there and receive their wages or salary while they pay high taxes in other for the company owners or government to run their system and this kind of system is called capitalism .

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Capitalism is an economywhere by the resources are owned by one man or group of people, investing with high capitals where they make the rules on how their productions will be run and the prices of the products are determined by the buyers.

For me I believe capitalism is run in my country because we have alot of companies where people work so hard,they work but at the end of the day the salary is not enough to take care of themselves not to talk of their families, people pay high taxes and don't enjoy what they are paying their taxes for, that's the kind of economy that is run in my country. Things are not shared equally, there is no incentive to work well,money are overworked for, sometimes it becomes so difficult and tiring.
The government doesn't have the full control over the companies or individuals,they can only enforce law and order in other to create minimal expenses over the products produced by those companies.
People live averagely in the capitalist economy,not too rich individual or poor individual while the rich ones are the ones controlling the affairs of the people. Whatever they do is What we accept even if we don't like their products we end accepting it. When the price of commodity becomes high the company producing the end product raises their prices too ,we reject it at first but later accept it because we have no other option than to do so,we don't really know how to cry out our opinions,we just adapt quickly to any maltreatment that comes our way even if our economy is getting worse.

Entrepreneurs can build a company,invest in it and produce different things that will be taken to the market at the end of the production,when the goods are sold they earn more than what they invested in the production and still has more profit to invest more in the business or expand it. Now it's very important that when doing a business you earn or make profits and also In the long run expand your company but it's not good to be overly selfish whereby you acquire more than what is needed but that's what this industries owners are doing.
This capitalism has its own advantage;

people have choices- they can choose any products they want simply because there are lots of companies producing goods and services,they can either reject a product or accept it.

The companies can compete with each other,since there is no boundaries in competition,they tend to produce more quality goods than each other thereby giving the people varieties of products to choose from.
While the disadvantage is that there is difference between the rich and the poor masses,the rich enjoy while the poor work for them and receive salaries and spend all the salary without having a single savings.

How does capitalism affects a nation's economy??

1. Companies only people that are working under them leaving others jobless which leads to high level of poverty and discrimination between the rich and the poor.
2. It makes countries compete with each other because there is a high rate of companies or industries in each country,they thereby make their workers work more to achieve their certain goals by so doing they neglect what their employees want.
   3.in our present time employees are made to overwork themselves out and then paying them little amount of money as salaries,the present capitalist are so unfair,they only think about themselves.

Note: various countries are beginning to experience poverty due to the selfishness of this capitalists leaving the government with little or no rule over them.
They have low economic growth thereby people with no choice than to work so as to survive on a daily and there is no other option for them.

Now let's talk on Socialism

Socialism economy

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In socialism economy people believe that the government should be responsible for all, unlike the capitalist where they believe that they are responsible for themselves and the government doesn't really have a say in their affairs.
The socialist believe that there should be equality among them in financial aspect,health care and all.
The citizens work for money and when profit is gotten,it is shared among them equally.
Unlike capitalism the government manages the affairs of the people,and rule over their financial aspect too.
It is believed that when one person in the country enjoys then everyone must enjoy too,what is good for one is good for another.

Socialism is good in such a way that everything earn is given our equally,there is no difference between the rich and the poor,but also some people feel bad about it because while some are working some are not and at the end of the day,the Money
generated is shared among them equally.
Also government has a say in whatever happens,they manage the production well and ensure fairness in the distribution.
Unlike the capitalist that the company earn for their personal pockets,the socialist government doesn't allow such, everything earned is for the people alone.

How does socialism affects a nation's economy?

1. They rely on government for their productions and infrastructure.
2. They only think about their workers rather than accumulating wealth for themselves, they make the money and share it among others.
   3.The economic growth is really slow, because there is no competition among companies or countries and the people don't really work much because even if they don't work they will receive their own wages, and those that works do not have the zeal to do so because they earn little money at the end of the day.
3. They pay higher taxes so that the government will continue to manage their economy in a way that suits them.

Even if their economy is good for them there is still toil on the economy.

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