CAPITALISM VS. COMMUNISM What is capitalism? Economic system where private citizens own the businesses and property What is communism? Economic system where the government owns the businesses and property Finish the below: CAPITALISM COMMUNISM Private citizens Government controls WHO HAS CONTROL jobs and wages OVER INDUSTRY? HOW IS WEALTH Depends on what you Government decides DISTRIBUTED earn AMONG THE CITIZENS? US, Britain Cuba, WHAT COUNTRIES North Korea HAVE THIS TYPE OF ECONOMIC SYSTEM? – Yes people earn No - the government IS THIS ECONOMIC money based on the doesn’t have endless SYSTEM REALISTIC type of job they money to buy more TO HAVE? WHY OR have. Competition businesses WHY NOT? leads to the best product at the lowest cost.
CAPITALISM VS. COMMUNISM What is capitalism? Economic system where private citizens own the businesses and property What is communism? Economic system where the government owns the businesses and property Finish the below: CAPITALISM COMMUNISM WHO HAS CONTROL OVER INDUSTRY? Private citizens Government controls jobs and wages HOW IS WEALTH DISTRIBUTED AMONG THE CITIZENS? Depends on what you earn Government decides WHAT COUNTRIES HAVE THIS TYPE OF ECONOMIC SYSTEM? US, Britain Cuba, North Korea IS THIS ECONOMIC SYSTEM REALISTIC TO HAVE? WHY OR WHY NOT? Yes – people earn money based on the type of job they have. Competition leads to the best product at the lowest cost. No - the government doesn’t have endless money to buy more businesses
CAUSES%20OF%20WWI%20Answer%20Key.docx