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Capitalism vs. Command Economy

Capitalism vs. Command Economy. A) Capitalism. 1) capitalism- economic system in which production and the means to produce are owned and controlled by private owners and groups. A) Capitalism.

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Capitalism vs. Command Economy

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  1. Capitalism vs. Command Economy

  2. A) Capitalism • 1) capitalism- economic system in which production and the means to produce are owned and controlled by private owners and groups.

  3. A) Capitalism • 1) capitalism- economic system in which production and the means to produce are owned and controlled by private owners and groups. • a. government plays a limited role

  4. A) Capitalism • 1) capitalism- economic system in which production and the means to produce are owned and controlled by private owners and groups. • a. government plays a limited role • b. market determines how resources are distributed

  5. B) Command Economy • 1) command economy- an economic system in which decisions on the basic economic questions are made by the gov’t

  6. II) Reasons for a Command Economy (Chinese Gov’t)

  7. II) Reasons for a Command Economy (Chinese Gov’t) • A) In a capitalistic economy, people will make things that make them the richest and not be able to meet all of the needs of the people

  8. II) Reasons for a Command Economy (Chinese Gov’t) • A) In a capitalistic economy, people will make things that make them the richest and not be able to meet all of the needs of the people • 1. Make goods for the rich, and not for the poor

  9. II) Reasons for a Command Economy (Chinese Gov’t) • B) Government should control production and allocation of resources

  10. II) Reasons for a Command Economy (Chinese Gov’t) • B) Government should control production and allocation of resources • 1. This would be more efficient, lead to less waste and little or no unemployment

  11. II) Reasons for a Command Economy (Chinese Gov’t) • C) In capitalism, you generally have very wealthy and very poor

  12. II) Reasons for a Command Economy (Chinese Gov’t) • C) In capitalism, you generally have very wealthy and very poor • 1. Because command is not concerned with profit, resources are distributed equally and there is a more level economic standing

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