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A Day- 2 / 1 /2011 2 B Day- 2 / 2 /201 2

A Day- 2 / 1 /2011 2 B Day- 2 / 2 /201 2. Objective TLW identify the historical origins and characteristic of the free enterprise system, communism, Agenda Modern Economic Systems: Capitalism, Socialism, and Communism TAKS Packet #4 ONLINE QUIZ – DUE FRIDAY. Basic Economic Terms. Land

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A Day- 2 / 1 /2011 2 B Day- 2 / 2 /201 2

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  1. A Day-2/1/20112 B Day-2/2/2012 Objective • TLW identify the historical origins and characteristic of the free enterprise system, communism, • Agenda • Modern Economic Systems: Capitalism, Socialism, and Communism • TAKS Packet #4 • ONLINE QUIZ – DUE FRIDAY

  2. Basic Economic Terms • Land • Natural resources or gifts of nature that are used to produce goods and services • Labor • Productive services provided by human beings, including physical effort, skills, intellectual abilities and applied knowledge • Capital • All buildings, equipment and human skills used to produce goods and services

  3. Basic Economic Terms • Means of production • Refers to physical, non-human inputs used in production—the factories, machines, and tools used to produce wealth • Goods and Services • Goods - objects that can satisfy people's wants • Services – activities that can satisfy people’s wants • Limited Resources • Resources that cant be replaced or replaced fast enough

  4. Basic Economic Terms • Supply and Demand • Supply - how much of a good producers make available • Demand – how much of a product consumers are willing to buy • The Good of Society • What economic system is best for a particular society • For Present and Future • What’s the end goal for each political system?

  5. New Economic Philosophies

  6. The struggle between workers & employers is unavoidable. • There must be a revolution not against the gov’t, but against rich • The “Haves” ---- The “Have-Nots” Communism “Workers of the world unite: You have nothing to lose but your chains” Karl Marx (1818- 1883)

  7. What is Communism? • This is the symbol of Communism – The Hammer and the Sickle Hammer for the Workers Sickle for the Peasants – the farm labourers This is Karl Marx, the ‘Father of Communism’. People who believe in his ideas are called ‘Marxists’

  8. The Road to Communism • Marx and Engels studied the history of the world’s economies. • This means the way that power, industry and finance are controlled. • They saw the way countries developed in stages. Communism Socialism Capitalism Feudalism Explain these please! Primitive Communism

  9. This is how humans first lived together – in small tribes. Primitive means ‘not very advanced’ e.g. hunting and gathering. Communism means that everything was shared amongst the tribe – food, jobs, belongings. No-one owned land. Eventually a group comes to power – this leads to Feudalism… Primitive Communism

  10. Feudalism He gives land and privileges to ‘nobles’ who rule the people for him. Under feudalism, a king or emperor or chief becomes the ruler over all the people. The people are kept uneducated and told that god chose the king to rule. The church helps the king this way. Feudalism As trade develops, some people get richer. This leads to Capitalism….. Primitive Communism

  11. Feudalism to Capitalism The capitalists get more power to serve their own interests. The business owners or capitalists get richer while the workers do all the hard work. Capitalism Feudalism Capitalism creates a huge working-class of people who soon get angry at the way they are treated. They organise in unions and demand changes. This will lead to a revolution and Socialism…

  12. What is Communism? Because nothing is made for profit, all people benefit from education and health. The workers take control of the country to produce things for everyone. These ideas spread across the world to create Communism…. Socialism Capitalism In the Socialist revolution all the rulers – kings, churches, capitalists are got rid of.

  13. What is Communism? The remaining capitalists put up a bitter fight, but the will of the people will always win. Communism Socialism As everyone now works together, war is a thing of the past – armies are not needed. Sharing means no police are needed. Everything is provided by the people – so money becomes a thing of the past. All human activity goes towards benefiting each other – allowing all to live their lives to the full.

  14. Which Economic System?

  15. Which Economic System?

  16. Which Economic System?

  17. Key: • #1: Capitalism (Milton Freidman) • #2: Communism (Marx/Engels-Communist Manifesto) • #3: Socialism (Robert Owen) • #4: Capitalism (Adam Smith) • #5: Socialism (Robert Owen) • #6: Capitalism (Adam Smith) • #7: Communism (Marx/Engels-Communist Manifesto) • #8: Socialism-(Robert Owen-A New View of Society) • #9: Communism (Marx/Engels-Communist Manifesto)

  18. Industrial Revolution

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