The document discusses different economic systems including communism, capitalism, and mixed economies. It provides scenarios about owning cows to illustrate the differences. Communism involves the government owning and controlling all resources and distributing them equally. Capitalism allows private ownership and free markets. A mixed economy combines elements of private enterprise and government intervention. The document lists countries that have practiced different systems and asks the reader to reflect on what was learned.

1. Communism!

2. Pros Cons

3. Which of the following scenarios do you find more
preferable? What scenario do you think is the better
system?

4. • You have two cows. The government takes them and puts
them in a barn with everyone else’s cows. You have to
take care of all of the cows. The government gives you as
much milk as you need.
Scenario One

5. You have two cows. You sell one and buy a bull. Your herd
multiplies, and the economy grows. You sell them and retire
on the income.
Scenario Two

6. • Scenario 3
Everyone brings in crayons. I take everyone’s crayons and
put them together in a box for everyone to use.

7. • Scenario 4
• Everyone brings in their own crayons and uses their own
crayons.
Which scenario is on the
same wavelength as
Scenario 1? Scenario 2?

8. Mixed Economy
(Capitalism and
Communism Communism)
• Government owns • Businesses are privately
everything! owned. (i.e.
McDonalds, private
school)
• Government controls
some stuff. (i.e.
roads, post office, public
schools)
The difference?

9. • You own your own business and make your own way.
• A mixed economy is an economy that includes a variety
of private and public control.
Capitalism and Mixed
Economy

10. • Everyone works.
• Everyone gets paid the same amount.
• Everyone gets taxed the same amount.
• The government owns everything and distributes it as it
decides what is fair.
• Pay is based on how hard you work.
• Jobs are distributed.
• No class system—No poor, middle class, and rich
societies.
Communism

11. • China
• The former USSR (Soviet Union) Now the countries that
include Belarus, Lithuania, and Russia
• Cuba
• North Korea
• Vietnam
• Laos
• The former Czechoslovakia (Czech Republic)
Countries that
practice(d) Communism

12. • United States
• Canada
• Japan
• Australia
• Germany
• United Kingdom
Countries with Mixed
Economy

13. I’ve learned that…
What have we learned?

14. The Lao People's Democratic Republic is a landlocked
country in Southeast Asia, bordered by Burma and People's
Republic of China to the northwest, Vietnam to the
east, Cambodia to the south and Thailand to the west. Its
population was estimated to be 6.8 million in 2009
Laos