Capitalism, Communism, or Socialism?

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Presentation transcript:

Capitalism, Communism, or Socialism? Economic Systems Capitalism, Communism, or Socialism?

STW

Create table, take notes

A farmer owns two cows and sells the milk to a government-owned dairy. Capitalism Communism Socialism

A farmer owns two cows and can sell the milk to any dairy. Capitalism Communism Socialism

A farmer is assigned two cows and a share of grazing land A farmer is assigned two cows and a share of grazing land. All milk is sent to a government-owned dairy. Capitalism Communis m Socialism

The farmer decides to sell the milk (from cows he owns) at his roadside stand. Capitalism Communism Socialism

The government sets the price of the farmer’s milk. Capitalism Communism Socialism

The price of the farmer’s milk is determined by the amount of milk produced and the total amount of people who want to buy it. Capitalism Communism Socialism

The government determines the number of gallons of milk it wants each year from its cows and gives production goals to farmers. Capitalism Communism Socialism

People buy the farmer’s milk from a privately-owned store. Capitalism Communism Socialism

People buy the farmer’s milk from a government-owned store. Capitalism Communism Socialism

People can shop around and buy milk from the store with the lowest price. Capitalism Communism Socialism

Because of a terrible milk shortage, the government takes control of the dairy industry and sets milk prices. Capitalism Communism Socialism

The farmer decides to sell one cow and use the money to buy a bull for the purpose of breeding more cows. Capitalism Communism Socialism