Socialism, Capitalism, Communism

What is Capitalism?

• A system where the government controls business
• Capitalism is an economic system where the means of production are privately owned and operated for profit! 
• A economic system in which the people have limited rights
• An economic system in which most property and resources, such as factories or farms, are publicly owned or controlled.

______________get to make the economic decisions under capitalism.

• Individuals
• Government
• Literally no one
• The President 

Laissez-faire means...

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

The government or groups of workers might control these resources but the profits are divided among the people.

• Capitalism
• Communism 
• Socialism
• Mixed Economy

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 

The United States is an example of what economic systems? 

• Capitalism
• Socialism 
• Mixed Economy 
• Communism 

Who owned everything under communism?

• Wealthy people
• The secret police
• The government
• The poor people

What is NOT true about communism?

• People were poor.
• People were rich.
• No one could own property.
• People had very little freedoms.

What is a key difference between capitalism and communism?

• Private Property is allowed in Capitalism
• Communism allows for a free market
• Capitalism, in theory, spreads the wealth evenly
• Communism encourages entrepreneurship