Your Teachers Explanation of Communism and Capitalism

Capitalism Defined

Capitalism can be defined as an economic system based on private ownership / enterprise. In a Capitalist society individuals pursue profit to meet not only there basic needs (housing, food, electricity, etc.) but also can use there income as they choose on luxuries (vacations, vehicles, technology, etc.) In this type of society, governement control on the economy / production is all but non existant.

Example: Apple is a privately owned business controlled by individuals (with very little governement involvement), they are free to create / produce according to free market demand. Please see the link for more information about this company (https://www.apple.com/ca/).

Communism Defined

Communism can be defined as an economic and political doctrine to create an classless society (everyone is seen as equal). To achieve this, most aspects are controlled by the government and distributed equally amongst the population. In a Communist society, most basic needs (housing, food, electricity, etc.) are centrally controlled.

Example: China National Offshore Oil Corporation (CNOOC) is a state owned business controlled directly by the chinese government. Please see the link for more information about this company (www.cnoocltd.com/#1). Being a state owned company means that the governement of China does have influence on its activities.

A visual approach to Communism and Capitalism

Communist vs Capitalist Leaders

To truly understand Communism and Capitalism (and their conflicts) you must look at the leaders that started the Cold War between the U.S. and the U.S.S.R.

In order to build your knowledge about both leaders, students will be asked to create a facebook page for both leaders. This facebook page must contain the following information: