2. Content
• What is an economic system?
• Types of economic systems
• Advantages and disadvantages of capitalism
• Countries that uses capitalism economic system.
• Advantage and disadvantages of socialism
• Countries that use socialism economic system.
• Advantage and disadvantages of communism
• Countries that use communism economic system.
5. Capitalism
• An economic system where individuals and corporations have the freedom to
own their own factories and businesses.
• Money 💴 is made by individuals making their own decisions.
9. • Is a term applied to an economic system in which property is held in
common and not individually, and relationships are governed by political
hierarchy. A primary goal of socialism is social equality and distribution of
wealth based on ones contribution to society and an economic aconomic
arrangements that would save the interest of society as a whole.
12. Countries under socialism economy
• Republic of Cuba 🇨🇺
• Lao people’s Democratic republic
• Socialists Republic ofVietnam 🇻🇳
13. Communism
• An economic system where everybody share equally the means of production and
the profit and loses.
• All decisions are made by central authority.
14. Advantages of communism
• Security
• Basic needs
• Equal rights
• Everyone would have a job, house 🏡, and health care 🏥