Communism/Capitalism Review

Capitalism and Communism

What are they? What is the difference between them?

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Hopefully, with this short review, we can answer these questions.​

Fill in the Blanks

What is an economic system in which the people decide what is produced, how much is produced, and a price for which it is to be sold?

​Why would the U.S. use this economic system?

​As we've learned so far, capitalism is the economic system the U.S. uses.

Capitalism

​You will answer this question on the next slide.

Open Ended

Why would the U.S. use capitalism?

Fill in the Blanks

What is an economic system in which the government decides everything, including what is produced, how much is produced, and the price for which it is sold?

Communism

​Communism is another popular type of economic system. This type of economic system is also a form of government. If a country's government is communist, that country also uses a communist style economy.

The difference between the two

​Both are economic systems.​

​However, only one is also a type of government.

Most capitalist countries use a democratic style of government in which the people who live in that country vote to make a lot of the decisions.

Communist countries do not give their people an option. Whatever the government says, goes. ​

Open Ended

Why might a country want to use communism as their style of government?

Now that we've reviewed and completed activities in class, lets see what you know!

Multiple Choice

Communism is...

• the same as capitalism

• different than capitalism

Multiple Choice

Communism is...

• controlled by the government

• controlled by the people

Multiple Choice

Capitalism is...

• controlled by the government

• controlled by the people

Multiple Choice

The United States uses...

• communism

• capitalism

Multiple Choice

Everything is "fair" in...

• communism

• capitalism

Multiple Choice

You can work hard to earn more than what you were given in...

• communism

• capitalism

Multiple Choice

You cannot open your own business whenever you want in...

• communism

• capitalism

Multiple Choice

Technology is typically more advanced in...

• communism

• capitalism

Multiple Choice

There is no such thing as private property in capitalism.

• true

• false