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Mr. Saeteurn’s Agenda. Permission Slips Crossword Puzzle Due Vocabulary Quiz Quiz Correction Communism vs. Capitalism Chart Go over Calendar http:// www.youtube.com/watch?v=DhlPAj38rHc. Vocab Quiz. Take 5 minutes to review your vocab.
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Mr. Saeteurn’s Agenda • Permission Slips • Crossword Puzzle Due • Vocabulary Quiz • Quiz Correction • Communism vs. Capitalism Chart • Go over Calendar • http://www.youtube.com/watch?v=DhlPAj38rHc
Vocab Quiz • Take 5 minutes to review your vocab. • When the quiz is passed out you will have 10 minutes
Vocab Quiz Corrections • Pass the quiz to the person in front of you. • People in the front pass the quiz to the person sitting in the back of your row
Answers • 10. c. Corporations • 11. a. rural, urban • 12. d. Urbanization • 13. d. All of the above • 14. a. Entrepreneur • 15. b. Collective Bargaining • 1. Capitalism • 2. Natural Resources • 3. Industrialization • 4. Unions • 5. Stock Market • 6. Agricultural Revolution • 7. Reform Laws • 8. Enclosures • 9. Crop Rotation
Mr. Chan Saeteurn Smart Cool Awesome Happy Emotional athletic Thoughtful Nerd Educated Useful Reliable Nerd
Capitalism vs. Communism Karl Marx Adam Smith
Adam Smith Karl Marx Born: May 5, 1818 German decent Height: 5’9 Title (Works Produced) The Communist Manifesto Fighting styles (ideas) Communism Marxism Economist Philosopher Historian • Born: June 5, 1790 • Scottish decent • Height: Unknown • Titles (Works produced) • The Theory of Moral Sentiments • The Wealth of Nations • Fighting styles (ideas) • Capitalism • Social Philosopher • Laissez-faire
Economic Systems Capitalism Communism The community or state should own property and the means of production Progress results when a community of producers cooperate for the good of all. Socialists believe that capitalist employers should take advantage of workers. Capitalism creates unequal distribution of wealth and material goods. A better service is to distribute goods according to each person’s need. An unequal distribution of wealth and material goods is unfair. A better system is to distribute goods according to each person’s needs • Individual business owns property • Progress results when individuals follow their own self interest • Business follow their own self interest by competing for consumer’s money. Each business tries to produce goods or services that are better and less expensive than their competitors. • Consumers compete to buy the best goods at the lowest prices. This competition shapes the market by affecting what business are able to sell. • Government should not interfere in the economy because competition creates efficiency in business.
And the winner is…. http://www.youtube.com/watch?v=gSdu2AboNT8
PV beats Chico High Almond Bowl