capitalism socialism individuals and businesses own property and the means of production progress...
If you can't read please download the document
DESCRIPTION
Capitalism Socialism Individuals and businesses own property and the means of production Progress results when individuals follow their own self interest Businesses compete for consumers money by producing goods that are better and less expensive than competitors Consumers compete to buy the best goods at lowest prices. Shapes the market by affecting what businesses sell Government should not interfere in the economy because competition creates strong businesses (Free Markets) The community or state should own property and the means of production Progress when a community cooperates for the good of all Believe that capitalist employers take advantage of workers and the government must protect workers unequal distribution of wealth and goods in the capitalist system System should distribute goods according to each person’s need Government regulation of economy to ensure equal distribution of wealth and material goods (Command Economy)