Economic Systems

​Economic Systems

By Tara Cameron

Multiple Choice

Do the ideas of

the document

represent

capitalism or socialism?

• Capitalism

• Socialism

Multiple Choice

Do the ideas of

the document

represent

capitalism or socialism?

• Capitalism

• Socialism

What We're Doing

We’re learning how capitalism, socialism, and communism TRY to solve real-life problems. You’ll answer short questions as we go.

Reminder!!!

“Who usually makes economic decisions?”

• Capitalism → individuals + businesses

• Socialism → government + people share

• Communism → government controls most

Example Slide

Example Scenario:
A neighborhood park is messy and full of trash. People want it cleaned up.

Here’s how someone might explain what each system would TRY to do

Example Slide

Capitalism would try to fix the park by encouraging a private company or group to clean it up, possibly for money or donations.

---

Socialism would try to fix the park by having the government and the community work together to clean it and share the responsibility.

---

Communism would try to fix the park by having the government assign workers to clean it so everyone benefits equally.

Scenario 1

Scenario: Not Enough Jobs
A town has 200 people but only 100 jobs. Many people can’t find work.

Open Ended

A town has 200 people but only 100 jobs. Many people can’t find work. How would EACH system try to solve this? Respond like:

Capitalism would try to fix this by ______.

Socialism would try to fix this by ______.

Scenario 2

Scenario: Not Enough School Supplies
A school does not have enough notebooks, pencils, or paper for students.

Open Ended

A school does not have enough notebooks, pencils, or paper for students.

How would this system try to solve this to get supplies for the students? Respond like:

Capitalism would try to fix this by ______.

Scenario 3

Scenario: Sickness is spreading
A sickness spreads through town and lots of people need doctors.

Open Ended

A sickness spreads through town and lots of people need doctors.

How would this system try to help the sick people? Respond like:

Socialism would try to fix this by ______.