SS.7.C.3.1 (Communism, Socialism, Capitalism)

Which is NOT a characteristic of Capitalism?

• Market Economy
• Supply and Demand
• Freedom of Competition
• Classless Society

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

In a Communist country, workers have no ________ to work harder.

• Time
• Help
• Ability
• Incentive

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 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 

One problem with socialism is...

• the rich will continue to get richer.

• people will only work as hard as they need to.

• those that don't work hard enough do not reap the benefits.

• the government keeps all of the wealth.

In which economic system is the GOVERNMENT in control of land, resources, and factories?

• Socialism

• Capitalism

• Communism