Do Now/Motivation: Complete Document #1 and Document #2 on the handout.

An economic system where production and distribution are privately or corporately owned. Bourgeoisie – owners of businesses Owners can work for a profit. Workers are paid by the owners. Health care and education are privately owned. Money can be earned according to the job you have. (Ex. Doctors make more money than McDonalds workers.)  An economic system where there is collective ownership of property and by the organization of labor for the common advantage of all members.  Proletariat – the workers  Everyone gets paid equally not matter what job they have.  People are paid by the government.  Businesses are government owned.  Education and healthcare are government run.

 Answer the Summary Question in 2-4 full sentences. Be prepared to present your answers.  Starter sentence:  I believe that the economic system of Capitalism….  OR  I believe that the economic system of Communism….