Tuesday, September 24, 2013

Outline section 4 of chapter 1

This will not be a traditional outline
Begin by defining the following terms:
1. Economics
2. capitalism
3. Free-market
4. Adam Smith
5. Laissez-faire
6. Mixed-market economy
7. socialism
8. Karl Marx / communist manifesto
9. Bourgeoisie / Proletariat
10. communism
11. command economy

Next: Create a chart to help organize the 3 main economic systems
In the left column write the following:

What and how much should be produced?

How goods and services should be produced

Who gets the goods and services?

Next: create 3 columns where you normally take notes.  Label these capitalism, socialism, and communism.

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