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  • Eleventh Grade Ninth Workshop

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    yulieth nieto
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    The document compares and contrasts the key features of capitalism and socialism. Capitalism prioritizes capital and private ownership, while socialism prioritizes equality and social ownership. Under capitalism, prices are determined by market forces and there is a high distinction between social classes. Socialism emphasizes equality and fairness, with prices set by the government and social ownership of production.

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    The document compares and contrasts the key features of capitalism and socialism. Capitalism prioritizes capital and private ownership, while socialism prioritizes equality and social ownership. Under capitalism, prices are determined by market forces and there is a high distinction between social classes. Socialism emphasizes equality and fairness, with prices set by the government and social ownership of production.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views1 page

    Eleventh Grade Ninth Workshop

    Uploaded by

    yulieth nieto
    The document compares and contrasts the key features of capitalism and socialism. Capitalism prioritizes capital and private ownership, while socialism prioritizes equality and social ownership. Under capitalism, prices are determined by market forces and there is a high distinction between social classes. Socialism emphasizes equality and fairness, with prices set by the government and social ownership of production.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Eleventh Grade

    Main skill to develop: critical thinking


    Language skill to develop: reading + writing

    Difference Between Capitalism and Socialism

    A capitalist economy is featured with the free market, wherein top most priority is given to capital. A
    socialist economy, refers to the organization of society, which is characterized by the abolition of class
    relations and thus give more importance to people.

    According to the above paragraph and your previous knowledge about these two economic systems,
    complete the comparison chart with the following features

    Each individual works for the Principle of Equality


    Means of production
    creation of his own wealth privately owned
    Principle of Individual Rights

    Innovation and individual Prices determined by the Low degree of distinction in


    goals Goverment the class of people

    High degree of distinction in Prices determined by the Wealth equally shared by all
    the class of people market forces the people of the country

    Means of production socially Equality and fairness in


    owned society

    Capitalism Socialism
    ▪ ▪

    ▪ ▪

    ▪ ▪

    ▪ ▪

    ▪ ▪

    ▪ ▪

    Which economic system is better for society’s needs? Give your own point of view by explaining
    why.

    Optional. If you want, visit the following link to reinforce your knowledge about these two economic systems
    https://www.youtube.com/watch?v=CrmimbzkSAg

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