Economy Assignment Your Blog
With the help of your textbook and Ch 23, please explain the differences among capitalism, socialism and communism. Then explain the pros and cons that each hold.
Due Friday April 1st.
posted by Moe Ruesink at
7:35 AM
8 Comments:
Capitalsim = Puting all human made resources into one to produce goods and services.
Socialism = is an economic and political philosophy based on the idea that the benefits of economic activity
Communism = Collectivist ideology, which calls for the collective, or state, ownership of land and other productive property
Capitalism is a country with a free economy were you can have your own business if you want. socialism is were the government has some control over the economy to be able to make the country wealthy. communism is a form of government were the government has complete control over the economy jobs and land.
Capitalism is good because people cando whatever they want but also it can bring down the economy. socialism can be good as well to make your country more wealthy, but people might not be as happy. communism, it will make everyone on the same scale and help make you a powerful country but most of the people will not like it.
Capitalism-An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
Socialism -A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
Communism-A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
Capitalism is free enterprise. Private ownership is allowed and the government can intervene to regulate the economy. It gives people the freedom of choice and the chance to take their own risks, make more mistakes and also succeed and make their own living.
Socialism is where the wealth of the country is devided equally among the people. There are high taxes, but generous public welfare programs.
Communism is where theres a strong central government that controls all industry and plans out the economy. There are not many choices for the individual but the economy can be very strong.
Capitalism is an economic system in which the means of production are privately owned and operated for profit.
the pro is anyhas a chance to become somebody. in that respect the con is nobody is equal in regards to succuss.
Socialism is an economic and political theory advocating public or common ownership and cooperative management of the means of production and allocation of resources.
pro- people are treated as equals as far as finaces goes.
cons- there is not much room for development
Communism is a sociopolitical movement that aims for a classless and stateless society structured upon common ownership of the means of production, free access to articles of consumption, and the end of wage labour and private property in the means of production and real estate
the pro is the goverment takes care of everything.
the con is the goverment takes care of everything.
Capitalism is the production, distrubition, and exchange of products from big corporations. So, they can manage their large companies for a profit.
Pro: When corporations are very popular they tend to have lower prices.
Con:They tend to run small businesses out of business.
Socialism is categorized by the distribution of income based on work not need.
Pro:If you work hard you get what you need.
Con:Some people can't do that same kind of work as others to gain their income.
Communism is where the government owns all of the land, and the money made off of it goes to the government to be distributed back to the people.
Pro:Everyone has the same income, so their would be less homeless people.
Con:Some people would work twice as hard as others, but yet still make the same ammount of money as the others.
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Capitalism is an economic system in which the means of production are privately owned and operated for profit. A good thing about this is that anyone can become whatever they want if they put their mind to it. A bad thing is that since people can become so big in businesses, nobody is really equal.
Socialism is an economic and political theory advocating public or common ownership and cooperative management of the means of production and allocation of resources. A good thing is that financially, people are treated equal. A bad thing is that there is little or no room for development.
Communism is a sociopolitical movement that aims for a classless and stateless society structured upon common ownership of the means of production, free access to articles of consumption, and the end of wage labour and private property in the means of production and real estate. A good thing about it is that the people won't have to worry about the government not taking care of anything. A bad thing is that the people will have to worry about to government deciding everything.
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