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Economic And Political Systemd

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Stefani Leonczyk

on 19 January 2017

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Transcript of Economic And Political Systemd

Economic And Political Systems
Capitalism
Workers produce goods/services

Company earns money by selling products or services

Owners of the company decide what to do with the money-how much to pay their workers, how much to spend on advertising, day to day expenses, etc.
Socialism
Government owns most of the basic industries

Industries are run for the good of society, not for profit.

No supply and demand-government sets fixed prices

Uses profits to pay for public services such as health care and education

Some companies owned privately-they follow capitalism

Countries-Spain, Portugal, Italy
Economy
-System for producing, distributing and consuming goods and services
Examples
Consumers are essential!
Although a company can produce goods or services, not everyone will want to buy it!

Consumers determine how much products cost, how much is produced, etc.
Capatilist Countries
United States

South Africa

Japan
Your Turn!
Producers? Good or Service?
Consumers?
-Producers-make products (goods) or provides services
-Business owners AND their employees

-Consumers-people who use goods and services
Producer-Apple
Make computers, tablets, phones, etc.
Consumers-Anyone who owns an Apple product

Producer-Electric Company
They provide electric service that powers your computer, TV, XBox, etc.
Consumers-Anyone who uses electricity
This is called Supply and Demand
Communism
Central Government owns all property-farms, factories, etc. to benefit all citizens

Sets price of goods, how much workers are paid, and how things are produced

Very few countries still practice communism-Cuba, China and North Korea.
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