Capitalism:

The theory of capitalism and free market:

Capitalism is a system that’s based on the recognition of individual
rights, including property rights where all the property is privately
owned. In a capitalist society, the only function of the government is to
take action to protect an individual’s rights and to defend him against
physical force.
In a free market economy, no man can use physical force against
anyone. Economic power can is achieved only by voluntary means –
i.e. by the choice of those who take part in the process of trade and
production. In a free market, prices, wages, and profits are determined
by the law of supply and demand.

Communism:

What were the objections to Capitalism in the 19th century?

 Capitalism exploits the poor – "the rich get richer while the
poor get poorer."
 “Capitalism is structurally racist and sexist.”
 Alienation of labour – basically, workers do not control the
process of their work because they do not own the means of
production anymore

How did they hope to organise society and the economies?

In communism, society was meant to be put before the individual. For
example, if an individual makes a profit, the profit doesn’t go to the
individual, but is shared amongst everybody. The economy was meant
to be organised in a way that it would be regulated and managed by
the government.

The Russian Revolution 1917:

Explain how this was a turning point in 20th century history?

The Russian Revolution was a turning point in 20th century in the sense
that it brought an end to Tsarism, and brought about the beginning of
communism as armed workers took power through their councils and
overthrew landlordism and capitalism.

Communism V Capitalism:

Why is capitalist and communist ideology so incompatible?

Communism and capitalism are incompatible due to their numerous
differences. For example:
1. In communism, the resources and means of production are owned
by the government, while in capitalism, they’re owned by a private
government.
2. In communism, profit is shared equally amongst all the people. In
capitalism, the profit
belongs to the owner that made it.
3. In communism, the society as a whole is above individuals. But in
capitalism, individuals are put above society.
4. Communism stands for abolishing private property, while capitalism
stands for enhancing it.
5. Communism is where everyone is equal; capitalism is where
everybody is free in terms of rights.
Where does democracy fit in? Why are most communist
countries single party states?
In capitalism, the people have the right to elect their own government
into power. Most communist countries are single-party states as a
single party dominates the government and has banned any
opposition. Democracy fits into capitalism -

Do capitalists object to communism on political grounds

(totalitarian/no democracy) or on economic grounds (planned
economy)?
Capitalists object to communism on both political and economic
grounds – in capitalism, there is more than one political party which
faces opposition, whereas communist states are usually single-party
states. In communism, the resources and means of production are
owned by the government, while in capitalism, they’re owned by a
private government. Basically, the government controls and manages
the economy in communism.