Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Economic Systems.Ppt1


Published on

  • Be the first to comment

  • Be the first to like this

Economic Systems.Ppt1

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