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ECONOMIC SYSTEMS

ECONOMIC SYSTEMS. CAPITALISM Capitalism is the economic system used in the United States. It is, in essence a perpetual game. In the game of capitalism, people play by buying and selling. The objects sold are called commodities. Downright weird commodities. Other weird commodities.

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ECONOMIC SYSTEMS

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  1. ECONOMIC SYSTEMS • CAPITALISM Capitalism is the economic system used in the United States. It is, in essence a perpetual game.

  2. In the game of capitalism, people play by buying and selling.

  3. The objects sold are called commodities.

  4. Downright weird commodities

  5. Other weird commodities

  6. Score is kept by PROFIT • Profit is defined as the money you make minus the money you spend.

  7. Capitalist Winners

  8. Supply and Demand • It is hard to sell a commodity unless the public needs (or wants) it. • It is hard to sell a commodity (even if the public wants it) if you don’t have it.

  9. Supply and Demand

  10. Role of the government • Regulate the market by controlling the amount of money you have to spend

  11. Role of the government • Regulate the market by controlling the amount of money you make.

  12. Role of the government • Regulate the market by controlling supply

  13. Role of the government • Regulate the market by controlling demand.

  14. Capitalism – Theory vs. Fact • Theory – the government plays no part. Unlimited profit is the goal. • Fact –the government regulates the market and limits good players and helps out bad players.

  15. Socialism • Socialism for small businesses and individuals works like capitalism. • Socialism has the big businesses being owned by the government through a process known as nationalization.

  16. Socialism • http://www.marketwatch.com/story/low-gas-prices-plague-venezuela-2011-03-16

  17. Socialism

  18. Socialism

  19. Socialism – Theory vs. Fact • Theory – the government owns all big businesses • Fact – the government has neither the money or manpower to own ALL big businesses.

  20. Utopian Socialism • People will live in communal groups and share all of their possessions in common

  21. Scientific Socialism

  22. Communism – Theory vs. Fact • Theory – Classless society where everyone is equal. • Fact – Some members start to think they are “more better” than others. There will always be owners.

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