Compare and contrast capitalism and socialism

Assignment Help Other Subject

Reference no: EM133186287 , Length: word count:1200

Assignment - The Role of Capitalism

Learning outcome: Examine the role capitalism plays in corporate decision making.

Overview

Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Socialism is a political and economic theory of social organization that advocates for the means of production, distribution, and exchange being owned or regulated by the community as a whole (1). Understanding the difference between capitalism and socialism will help you understand how these economic systems impact how resources are collected and distributed within society, which is connected to that society's system of work. In this assignment, you will write an essay discussing how capitalism and socialism function in different countries.

Preparation
Choose one capitalist country and one socialist country from the following lists:

Capitalist Country

US
UK
Japan

Socialist Country

China
Cuba
Venezuela

Instructions
After choosing your countries, use the corresponding library guide to research your chosen countries and then write a one-page essay in which you do the following:

Explain the concepts of capitalism and socialism in your chosen countries.

Compare and contrast capitalism and socialism in your chosen countries with supporting definitions, explanations, and examples.

Identify three pros and three cons for both capitalism and socialism in your chosen countries.

Reference no: EM133186287

Questions Cloud

What do you call this strategy : You sell 3,000 put options at $2 each and 3,000 call options at $3 each. The exercise price of one put option is $60. What do you call this strategy

Discuss the functional component of business : Discuss the functional component of business and in the context of problem-solving.

Ethical watchdog in a systems development project : James is uncomfortable with the request. He is not sure the bank has the right to use a person's data for purposes other than the original intent.

What is the npv of this investment : It will be salvaged for $200,000 at the end of year 3. If your required rate of return for the project is 13%, what is the NPV of this investment

Compare and contrast capitalism and socialism : Compare and contrast capitalism and socialism in your chosen countries with supporting definitions, explanations, and examples.

Find the amount of proceeds received by luqman : After he kept the note for 50 days, he then sold it to a bank at a discount rate of 3%. Find the amount of proceeds received by Luqman

Country identified for international expansion : Explain the sources of comparative advantage for the domestic production versus the country identified for international expansion.

What is the expected cash inflows for year three : Assuming that the equipment will yield exactly a 12% rate of return, what is the expected cash inflows for year 3

What is the source of asymmetric information : Describe an adverse selection problem a company is facing. What is the source of the asymmetric information? Who is the less informed party?

User Account

All Pages