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
Reference
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