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    I know what they are but I cant distinguish between the two. Can some someone list out the basic differences between the two also providing some basic examples.

    Socialism is an economic system whereby the means of production (industry, businesses) are owned by the state (or socially, but more on that later). It is often accompanied by a large state handout system in other respects (food, energy, housing being examples), but not dependent on it.

    Communism is a political idea that has never been properly implemented (and hopefully never will be), where there is no government and the citizens live in communes, with a socialist economy where all profits are shared and there is no individual wealth. Even the Soviet Union and Mao's China were not, by definition, commmunist states, just socialist states with nationalised wealth; there was still a government (pretty awful ones at that).

    I hope that explains the difference, though it's safe to avoid both while making the distinction.
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