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Economic Systems--Part 2-Communism

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by

Keith Jones

on 22 October 2015

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Transcript of Economic Systems--Part 2-Communism

Economic
Systems
Communism
"Communal"-- a society that works together for the common good.
"We're all in this together."
The society sees a need, so the State (the government) creates the product.
The State sets the price so that the society has access to the product.
Companies only go out of business because the State decides that the product is no longer needed.
There is no competition between businesses because only the State is creating products.
An Example of Communism
Society's need? Cars for the common people.
Automobiles
The State creates the Zaporozhets automobile country to produce cars.
The price was set by the State so the common people could have the car.
The company only went out of business when the Soviet Union (the State) collapsed.
The State (government) owns everything, including all businesses.
Now, go to your teacher and ask for the exit ticket for Part 2--Introduction to Communism
Full transcript