Reference no: EM132776701
Assignment - The Role of Capitalism
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).
In this assignment, you will write a 2-3 paragraph essay comparing capitalism and socialism:
Briefly define, in your own words, the concepts of capitalism and socialism.
Identify three pros and cons of each.
The specific course learning outcome associated with this assignment is: Examine the role capitalism plays in corporate decision making.
Sources - William H. Shaw. 2014. Business Ethics: A Textbook with Cases. Wadsworth, Cengage Learning 8th edition textbook.
Note - Need 3 paragraphs (500 words) + title page + references with in-text citations.