Key Area 1 Slide

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Key Area 1 Slide

  1. 1. <ul><li>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 </li></ul><ul><li>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 </li></ul><ul><li>Traditionalism - people do things the way that things were done a long time ago </li></ul><ul><li>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 </li></ul>

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