Communism falls at the completely other side of the spectrum than Capitalism. It is frowned upon by many due to is history with the Soviet Union, Cuba, and North Korea, though it really isn't that bad...in theory. The theory of communism states that the means of production are owned by the workers and are distributed equally. It also dictates that once a socialist country sees how working for each other is beneficial to themselves, there will no longer be a necessity for government, hence will turn communist. Again, this only works in theory.
In this system, there are no buyers, buyers don't exist because businesses don't exist. There is no poverty, everyone is cared for economically. The only things produced are the things that people need to stay alive. Just like capitalism, communism ends up destroying itself. It assumes that everyone will reach such an enlightened stage where they work for practically no motivation and that this enlightenment will make people cooperate with each other without law. This is not currently possible because everyone is a stupid dumbass...but what a perfect world it would be if we weren't.
In practice, the economy is controlled by a central authority. The authority makes every decision for you. This authority typically uses violent force to keep people in check and claims that pure communism will eventually be or already is established. For example, in North Korea, the government tortures and kills anyone who speaks out against it. It also brainwashes its citizens to think that the rest of the world is in shambles and that their society is perfect and that their leader is a god; this is all while they are all starving to death.
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