This document compares and contrasts the basic principles and characteristics of capitalism, socialism, and communism. Capitalism involves private property ownership and free market competition. Socialism incorporates both private and public property ownership as well as a regulated market. Communism entails public property ownership, centralized government control of the economy, and an absence of competition. The document outlines key differences in terms of ownership, operation, choice, government involvement, competition, and prominent historical supporters of each economic system.
Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society . . . . He intends only his own gain, and he is in this, and in many other cases, led by an invisible hand to promote an end which was not part of his intention.
- Adam Smith
Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society . . . . He intends only his own gain, and he is in this, and in many other cases, led by an invisible hand to promote an end which was not part of his intention.
- Adam Smith
This PPT describes about the meaning of economic system and the three main types of eonomic systems i.e. Capitalism, Socialism and Mixed economy in detail.
There are mainly three types of economic system that are socialist, capitalist and mixed economy. Any of country of the world exist in any one of them and followed them.
The presntation content include;
Capitalism
Characteristics of Capitalism
Advantages of Capitalism
Disadvantages of Capitalism
Examples of capitalist countries
socialism
Advantages of socialism
Disadvantages of socialism
examples
Communism
advantages of communism
Disadvantages of communism
examples
PRESENTATION ON ECONOMY AND SOCIALISM .pptxSomu Gupta
Economy means the collective activities of producers and consumers in a region, market, or industry.
Socialism is an economic system where everyone in society equally owns the factors of production.
What are the major differences between capitalism- communism- and soci.docxloisj1
What are the major differences between capitalism, communism, and socialism?
Discuss the three major economic indicators and how they are indicative of our current economic climate.
Identify the major strategies a business owner may consider when entering the global marketplace. Discuss the advantages and disadvantages of each of your points.
Solution
1.) Capitalism is an economic and political system in which individuals own economic resources and industry, whereas under socialism, the state plans and produces goods, and either owns or redistributes resources among its citizens.While in communism, it is a different economic system, many people confuse socialism with communism. Under communism, everything is owned communally, or by everyone. Ideally, there is no government or class division, and no money; each person contributes to society as best as he or she is able, and takes from that society only what he or she needs. The decisions made by that society are supposed to benefit the people as a whole, not any individual.
2.) In a capitalist economy, the political system emphasizes competition for resources as a means of increasing capital and developing personal success. In a socialist economy, the emphasis is on distributing wealth so that individual needs are met with collective capital.
3.)Capitalism has several unique defining characteristics. It can be separated into a variety of types:
.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
5. Government Involvement?
GOV’T OWNS BASIC INDUSTRIES/PROVIDES SOCIALSERVICES- Socialism
GOV’T OWNS ALL INDUSTRIES- Communism
GOV’T INVOLVEMENT KEPT TO A MINIMUM- Capitalism
6. Amount of Competition?
COMPETITON IS LIMITED- Socialism
COMPETTITON IS PROMOTED- Capitalism
THERE IS NO COMPETTITON- Communism
7. Promoters of Economic System?
Karl Marx- Socialism/Communism
Adam Smith- Capitalism
8. Capitalism
Pro
Rewards individual success
Individual success leads to common good
Con
Competition leads to winners and losers
Not all succeed
9. Socialism
Pro
All share equally the benefits of production
No winners and losers
Con
No competition - efficiency goes down
High taxes
10. Communism
Pro
Full employment
citizens get what they need
Con
Gov’t decides rewards
Few luxuries
