A.

Role of the Government

1. to what extent does it influence?
B. Incentives
1. What motivates people?
C. Economic Freedom
1.Can you do what you want?
D. Competition

1. Does success get rewarded and failure

punished?
E. Property Rights
1. Do you keep your stuff?
1. Each group will be assigned one of 3 types of
economies: Capitalism, Socialism, and
Communism and a team to debate.
2. Read the page about your economy and your
opponent’s economy.
3. Prepare speech where you argue why your
economy is better than theirs. Cover all 5
characteristics
4. Prepare Poster to illustrate your main points
1. 4 mins each: Each team gives their opening
speech.
2. 2 mins each – rebuttal of opposing team.
3. Speech should be written so you are ready to
perform it next
class
What type economy is the USA?
A. No country is ONLY 1 type of
economy.

B. Ex: USA = Capitalism + Socialism

B. Capitalism/Free-Market
1. Role of Government:
a. Gov’t is hands off, leaves all decisions up to
people
2. Incentives
a. Up to you to support yourself – no welfare as
safety net
3. Economic Freedom –
a. Anyone can do anything
4. Competition –
a. All individuals and businesses compete –
allows the best to control resources and the
weak to fall

5. Property Rights
a. Low taxes, keep what you earn, but wide
spread between rich and poor
1. Role of Government
a. Gov’t controls MAJOR industries like power
and transportation companies. Also provides
massive welfare programs.
2. Incentives
a. Gov’t provides necessities “cradle to grave” if
you are poor
3. Economic Freedom
a. Regulations to promote fairness
4. Competition
a. Still retains private market competition
between businesses
5. Property Rights
a. Most Socialist countries democracies; so
rights respected, but…
high taxes to pay for everything gov’t does
1. Role of Government
a. Gov’t makes ALL economic decisions (what
job you have, what to make, how much they
cost)
2. Incentives
a. Gov’t sets your pay, supposed to be fair, no
matter what you do
3. Economic Freedom
a.Nada, Zip, Zilch
4. Competition
a. Society operates as 1 organism, no one to
compete against (every businesses is part of
same gov’t)
5. Property Rights
a. Property is owned by community