Systems of Economy (EL)

Which type of economy has individual ownership?

• Capitalism

• Communism

What is a positive of capitalism?

• Everyone gets an equal amount

• You can work wherever, buy whatever.

• Your life is controlled by the government

What is one negative of capitalism?

• Everyone gets an equal amount

• Huge gap between rich and poor.

What is communism?

• a classless society in which all property and wealth are government owned

• individual ownership and competition

Which is a positive of communism?

• Security, basic needs met and everyone would have a job

• freedom of choice

• If you’re successful, you can be very successful.

What is one negative of communism?

• No freedom of choice

• Big gap between rich and poor.

_____________ is the buying, selling, trading and producing goods and services

​ (a)  

• economy
• capitalism
• communism
• banana