Assignment 2 Capitalism Vs

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Assignment 2 Capitalism Vs. Socialism Worksheet

Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state whereas socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

 

In this assignment, you will define the roles capitalism and socialism play along with the advantages and disadvantages of each. 

 

In two to three (2-3) paragraphs:

· Using your textbook, paraphrase the concepts of capitalism and socialism. Then list three pros and cons of each.

 

1. Define in your own words the definition of capitalism.

 

a. Pro #1

b. Pro #2

c. Pro #3

d. Con #1

e. Con #2

f. Con #3

 

2. Define in your own words the definition of socialism.

 

a. Pro #1

b. Pro #2

c. Pro #3

d. Con #1

e. Con #2

f. Con #3

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