Topic: Definition on Capitalism, Socialism, Communism and

which countries belongs.

Subject: International Marketing

Submitted by: Abdullah Afzal
Submitted to: Sir. Rao Bakhat Yawar
Class: (MBA-1.5) Morning
Semester: 2
Roll Number: L-21305
Assignment: 1

National University of Modern Language

 Capitalism
Capitalism is an economic system in which factors of production which include capital goods,
natural resources, labor, and entrepreneurship are owned by private individuals or businesses.
Capitalism requires that the government follows a laissez-faire policy where it should not
intervene in economic matters. In a capitalist market economy, investment and decision-making
are ascertained by every owner of wealth. Capitalism involves the free operation of capital
markets where the laws of demand and supply set the prices of bonds, stocks, currency, and
commodities. In this article, we will discuss some examples of capitalism to understand it in
depth.

Examples of Capitalism
1. Hong Kong
2. Singapore
3. New Zealand
4. Switzerland
5. Australia
6. Canada
7. United Arab Emirates
8. Ireland
9. Taiwan
10. United Kingdom
11. United States
12. Denmark
13. Sweden
14. South Korea
15. Norway

Socialism
The term socialism refers to any system in which the production and distribution of goods and
services is the shared responsibility of a group of people. Socialism is based upon economic and
political theories that advocate for collectivism. In a state of socialism, there is no privately-
owned property.

Countries Declared as Socialist

 Republic of India
 United Republic of Tanzania
 Portuguese Republic
 People's Republic of Bangladesh
 Democratic Socialist Republic of Sri Lanka
 Cooperative Republic of Guyana
 Communism
Communism is a system of government where all the property is public and the government
owns and controls the manufacturing and transportation industries. People share equally from the
benefits of labor and they receive the things they need from the government.

Communism Countries:
 China (People's Republic of China)
 Cuba (Republic of Cuba)
 Laos (Lao People's Democratic Republic)
 North Korea (DPRK, Democratic People's Republic of Korea)
 Vietnam (Socialist Republic of Vietnam)
 Countries with Ruling Communist Parties