Capitalism, Socialism, & Communism

Laissez-faire means...

• Hats off
• Hands around
• Hands off
• Hands on

In a socialist economy, the wealth is distributed evenly among citizens.

• True
• False

This economic system is based on competition, profits, and self-interest.

• Socialism
• Communism
• Capitalism

In a "pure" communist society, who are the wealthiest and most powerful people?

• Intellectuals
• Business leaders
• Military leaders
• No One--every member of society is supposed to be equal

Tags

CCSS.RI. 9-10.7

CCSS.RI.8.7

CCSS.RL.8.5

CCSS.RL.8.7

CCSS.RL.9-10.7

How does socialism differ from capitalism?

• In socialism, the goverment controls the means of production; whereas, capitalism focuses on the private owner.
• In socialism, the goverment provides subsidies for small buisnesses; whereas, capitalism only depends on the corporations to spark the economy.
• In socialism, the goverment does not provide any form on humanitarian aid; whereas, capitalism funds small buisness with tax relief.
• In socialism, the government controls what the consumer can purchase; whereas, capitalism controls what the business can market.

What does communism believe in?

• Economic system with individuals having private ownership of money/production.
• Maintaining total control over society. 
• Economic equality through elimination of private property.
• A government of the people, by the people, for the people.

The founder of communism 

• Adam Smith
• John Locke
• Karl Marx
• Rousseau 

This person wrote "The Wealth of Nations" and believed the government should have a limited role in business.

• John Locke
• Adam Smith
• Charles Fourier 
• Karl Marx

This economic system aims to make the best products for the lowest amount of money, which often times leads to bad treatment of workers.

• Socialism
• Communism
• Mixed Market Economy 
• Capitalism 

______________get to make the economic decisions under capitalism.

• Individuals
• Government
• Literally no one
• The President