Capitalism, Socialism, Communism

Which type of economy has individual ownership and values competition?

• Communism
• Capitalism
• Socialism

What are two positives of capitalism?

• Freedom of choice, private property
• Everyone gets an equal amount
• You can work wherever, shop wherever, buy whatever.
• The economy and your life is totally controlled by the government

What is one negative of capitalism?

• Huge gap between rich and poor.
• Everyone gets an equal amount
• Everyone is rich

What's one characteristic of communism?

• Believes in collective (group) ownership and a planned economy.
• You can own whatever you work hard towards and .

What is a positive of communism?

• The rich are rich and the poor are poor and that is ok
• Security, basic needs met and everyone would have a job

What is one negative of communism?

• lack of choice
• too much freedom

What economic system is a combination of capitalism and communism?

• Socialism
• Fascism
• Laissez-faire

Is the current United States economy mostly capitalism or mostly communism?

• Mostly capitalism
• Mostly communism

Which economic system aims to reduce wealth disparities?

• Capitalism

• Communism

• Feudalism

Who is known as the "Father of Communism?"

• Adam Smith

• Karl Marx

• Vladimir Lenin

• Alexander Hamilton