U3, L2: Economic Systems (QV)

Open Ended

What do you think are two positive effects of capitalism?

Open Ended

What do you think are two negative effects of capitalism?

Match

Match the following to summarize what you have learned about the economic system of capitalism:

• Private Property

• Competition Level

• Who can start a business

• Government Involvement

• Goal

Business owned by person

High

Anyone

Low

Make as much money as possible

• Business owned by person

• High

• Anyone

• Low

• Make as much money as possible

Open Ended

What do you think are two positive effects of socialism?

Open Ended

What do you think are two negative effects of socialism?

Match

Match the following to summarize what you have learned about the economic system of socialism

• Public Property

• Competition Level

• Who can start a business

• Government Involvement

• Goal

Business owned by government

Low

People & Government

Medium

Government does what is best for society

• Business owned by government

• Low

• People & Government

• Medium

• Government does what is best for society

Open Ended

What do you think are two positive effects of communism?

Open Ended

What do you think are two negative effects of communism?

Match

Match the following to summarize what you have learned about the economic system of communism:

• Ideal Version

• Competition Level

• Who can start a business

• Government Involvement

• Realistic Version

Everyone equal and peaceful

None

Only Government

Total

Dictatorship

• Everyone equal and peaceful

• None

• Only Government

• Total

• Dictatorship

Open Ended

After learning about capitalism, socialism, and communism as economic systems, which one would you prefer to live in? Explain it at least 5 sentences using what you have learned.

Multiple Choice

John legally sells dangerous drugs to children to make a large profit.

• Capitalism

• Socialism

• Communism

Multiple Choice

Bobby only sells cigarettes to people over 18 years old because that’s the law.

• Capitalism

• Socialism

• Communism

Multiple Choice

Amir waits in line to get his allotment of food from the government.

• Capitalism

• Socialism

• Communism

Multiple Choice

Kim owns the factors of production and has built the biggest clothing line in the world today.

• Capitalism

• Socialism

• Communism

Multiple Choice

Ashanti has always dreamed of owning her own business but is not able to start one since the government runs all businesses.

• Capitalism

• Socialism

• Communism

Multiple Choice

The CEO of IHOP (International House of Pancakes) changed the restaurant to IHOB (International House of Burgers) and back to IHOP in 2018.

• Capitalism

• Socialism

• Communism

Multiple Choice

The Mount Joy Diner was checked by the state Health Inspector to ensure they are following all food safety laws.

• Capitalism

• Socialism

• Communism

Multiple Choice

Anna had a hard time deciding what flavor of ice cream to buy at the supermarket because there were so many options.

• Capitalism

• Socialism

• Communism

Multiple Choice

Nikki was not allowed to apply for full-time work because she is required by law to attend her local public middle school. 

• Capitalism

• Socialism

• Communism

Multiple Choice

Denise works over 17 hours a day, everyday, in a factory making less than a dollar per hour while her boss is a millionaire.

• Capitalism

• Socialism

• Communism

Multiple Choice

Lauren worked with other politicians to pass a law requiring all cars made after this year to be hybrids or electric cars.

• Capitalism

• Socialism

• Communism

Multiple Choice

Angel hated peas, but they were the only vegetable the government grew and sold during the month of August.  

• Capitalism

• Socialism

• Communism