Economies

In Glogpedia

by taylorbristol
Last updated 4 years ago

Discipline:
Social Studies
Subject:
Economics

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Economies

Capitalism

Socialism

Communism

Economies

Typically communist economies are run by one political party and the state owns all means of production and business.

Cuba

If you do own a business you are heavily taxed and have harsh labor laws, like the number of hours you can work and the time you can spend at your business.

In a capitalist enconomy everyone is for themselves basically; you yourself have to protect you sucess and wealths you've earned and worked for.

Denmark

The Unites States of America

Socialism counts on your government and their planning. People are supposed to work usually but the government provides their people with some necessities for free or a low cost.

In a communist economy everything is communially owned. They have no money and wealth classes; things decided benefit everyone not just certain people.

Capitalism is where people own there own businesses and industries. This type of economy can be competitve, for people have to create there own wealth and success.

http://www.simplydecoded.com/2013/04/19/capitalism-socialism-communism-introduction/


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