Economic Systems.Ppt1
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Economic Systems.Ppt1

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Economic Systems.Ppt1 Economic Systems.Ppt1 Presentation Transcript

  • Economic Systems
  • Capitalism
    • Individuals are free to own property
    • Individuals and companies are free to compete for their own economic gain
    • Free market forces determine the prices of goods and services
    • U.S. is based on this, however,
    • No society exits with true capitalism ideals
  • “Greed is Good”
  • Communism
    • 1. Government owns all resources
    • 2. Government determines what should be produced
    • 3. Individuals do not benefit directly from their work
    • 4. “Classless” society
  •  
  • Socialism
    • Government owns major enterprises, individuals own less critical businesses.
    • Developed due to social inequalities of capitalism (The rich get richer)
    • Citizens pay higher taxes in return for benefits such as health care and day care.
  •  
  • Market Economy (Mixed)
    • Market forces (supply and demand) and some govn’t involment move the economy
    • No central body regulates the economy
    • Freedom of individual choice
    • http://videos.howstuffworks.com/hsw/17070-how-to-study-cultures-economic-systems-video.htm