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Centralized Socialism

-Maintains that the government should be both the central owner and the decision maker in all economic affairs of the state

-Ideas created by Karl Marx

North Korea.

Differences.

Differences

-Centrally Planned System

-Market is extremely limited

-Government controls everything and

everyone

-Public Distribution System hands out

neccessary items

-Government Manages and Develops

their economy

Capitalism

-Private Property

-Little government involvement

Socialism

-No private property

-controlled economy

Centralized Socialism

-Complete Dictator/government control of economy

-Socialism

-Centralized Socialism

-Capitalism

Sources

-Wikipedia

-Textbook

-cia.gov

-organizationsandmarkets.com

-Prezi

Centralized Socialism

Differences

Centralized Socialism- You have two chickens

the state takes both and gives you some eggs

Socialism- You have two chickens and the state makes you give one too your neighbor

Capitalism- You have two chickens you sell one and buy a rooster you breed multiples and the economy grows, you sell them and retire on the income

by: Emily Stonier.

Molly Wilson. &

Sean Sutton.

Cuba

-Centrally planned economy

-Production is owned by government

-Government sets rations and prices for

their people

-Government approval is required for

capital investment

-The government oversees all state

affairs

Real World Examples

-North Korea

-Cuba

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