Economic models capitalism, socialism, communism

The presntation content include;
Capitalism
Characteristics of Capitalism
Advantages of Capitalism
Disadvantages of Capitalism
Examples of capitalist countries
socialism
Advantages of socialism
Disadvantages of socialism
examples
Communism
advantages of communism
Disadvantages of communism
examples

1. Capitalism Socialism and Communism Economic Models

2. Economic Models Topic : Capitalism

3. Capitalism

4. Capitalism Capitalism: “Capitalism is an economic and political system based on private ownership, in this system the country’s trade and industry is controlled by private owners for profit, rather than by government. “ Key Points: In capitalism, owners control the factors of production and derive their income from it. Capitalism incentivizes people to maximize the amount of money they earn through competition.  Competition is the driving force of innovation as individuals create ways to accomplish tasks more efficiently. In this system the production of goods and services is based on supply and demand in the general market which is known as market economy.

5. Capitalism Characteristics: In this system there is no equality the rich becomes richer and the poor becomes poorer. In this system the government usually relies on private sector. Modern capitalist systems usually include market oriented economy, in which the production and pricing of goods, as well as income of individuals are dictated to a greater extent market forces resulting from interactions between private businesses and individuals than by central planning by the government. Capitalism is built on the concepts of private property, profit motive and market competition. Another component of capitalism is the free operation of the capital markets. The laws of supply and demand set fair prices for stocks, bonds, derivatives, currency, and commodities.  Capital markets allow companies to raise funds to expand.

6. Capitalism Advantages of Capitalism: Capitalism results in the best products for the best prices because consumers will pay more for what they want the most. Businesses provide what customers want at the highest prices they’ll pay, and prices are kept low by competition among businesses. They make their products as efficiently as possible to maximize profit. Most important for economic growth is capitalism's intrinsic reward for innovation, including new products and more efficient production methods.

7. Capitalism Disadvantages of Capitalism: Capitalism doesn't provide for those who lack competitive skills, including the elderly, children, the developmentally disabled, and caretakers. To keep society functioning, capitalism requires government policies that value the family unit. Capitalism does not promote equality of opportunity, inequality may seem to be in the best interest of capitalism's winners.  Capitalism ignores external costs, such as pollution and climate change. This makes goods cheaper and more accessible in the short run, but over time, it depletes natural resources, lowers the quality of life in the affected areas, and increases costs for everyone.

8. Capitalism Examples: The United States is one example of capitalism, but it doesn't rank among the 10 countries with the freest markets, according to the Index of Economic Freedom. It bases its ranking on nine variables, including​ a lack of corruption, low debt levels, and protection of property rights.  The top 10 most capitalistic countries are: Hong Kong Singapore New Zealand Switzerland Australia Ireland United Kingdom Canada United Arab Emirates Taiwan

9. Economic Models Topic : Socialism

10. Socialism

11. Socialism Socialism: “Socialism is an economic system where everyone in society equally owns the factors of production. That ownership is acquired through a democratically elected government or through a cooperative or a public corporation in which everyone owns shares. ” Key Points: Socialists take into account both individual needs and greater social needs. They allocate resources using central planning, as in a command economy. Everyone in society receives a share of the production based on how much each has contributed. This system motivates them to work long hours if they want to receive more. Workers receive their share of production after a percentage has been deducted for the common good. The four factors of production are labor, capital goods, natural resources, and, in the modern era, entrepreneurship.

12. Socialism Characteristics: Socialism is a system that shares economic output equally throughout the population. It values the collective well-being of the community, rather than individuals. The government distributes resources, giving it greater control over its citizens. There are eight different kinds of socialism, each with their own priorities and economic styles.

13. Socialism Advantages of Socialism: Under socialism, workers are no longer exploited because they own the means of production. Profits are spread equitably among all workers according to their individual contributions. But the cooperative system also provides for those who can't work. It meets their basic needs for the good of the whole society. The system eliminates poverty. It provides equal access to health care and education. No one is discriminated against. Everyone works at what one is best at and what one enjoys. If society needs jobs to be done that no one wants, it offers higher compensation to make it worthwhile for people to take them. Natural resources are preserved for the good of the whole. 

14. Socialism Disadvantages of Socialism: The biggest disadvantage of socialism is that it relies on the cooperative nature of humans to work. It ignores those within society who are competitive and focus on personal gain. Those people tend to seek ways to overthrow and disrupt society for their own benefit. socialism doesn't reward people for being entrepreneurial. It struggles to be as innovative as a capitalistic society. A third disadvantage is that the government has a lot of power. This works as long as it represents the wishes of the people. But government leaders can abuse this position and claim power for themselves. 

15. Socialism Examples: There are no countries that are 100% socialist, according to the Socialist Party of the United Kingdom. Most have mixed economies that incorporate socialism with capitalism, communism, or both. The five Nordic countries Norway, Finland, Sweden, Denmark, Iceland have strongly socialist systems. The state, on behalf of the people, owns a large percentage of the economy. It spends a large portion on education, housing, and public welfare. A large percentage of its workers are unionized, granting them greater power. Last but not least, these countries are democracies, allowing the general population input into decision making. But these countries also incorporate many aspects of a capitalistic economy. As a result, its inhabitants are among the happiest in the world, regularly placing among the top 10 on lists of the world's happiest people.

16. Economic Models Topic : Communism

17. Communism

18. Communism Communism: “Communism has a centrally planned economy, it is the economic and political system of social organization in which all property is owned by community and each person contributes and receives according to their abilities and needs.” Key Points: The state owns all land, machines, industries, buildings and infrastructure. Personal property is abolished. In communist system a system of central planning is introduced where the state sets production targets for all goods and services. Communism is based on the idea of a class struggle. Communism is based on equality social classes are absent in this system.

19. Communism Characteristics: Abolition of property in land and application of all rents of land to public purposes. A heavy progressive or graduated income tax. Abolition of all right of inheritance. Confiscation of the property of all immigrants and rebels. Equal liability of all to labor and establishment of industrial armies (especially for agriculture). The gradual abolition of the distinction between town and country. Free education for all children in public schools and abolition of children's factory labor. Centralization of credit in the hands of the state. The state would control communication and transportation. The state factories and instruments of production would cultivate wastelands and improve the soil.

20. Communism Advantages of Communism: Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power.  It can move so effectively because it overrides individual self-interest and subjugates the welfare of the general population to achieve critical social goals. It instructed the government to protect the rights of all to pursue their idea of happiness. It sees income inequality as a sign of late-stage capitalism and believe that capitalism's flaws mean it has evolved past its usefulness to society.

21. Communism Disadvantages of Communism: The most significant disadvantage of communism stems from its elimination of the free market.  The laws of supply and demand don't set prices the government does. Planners lose the valuable feedback these prices provide about what the people want. They can't get up-to-date information about consumers' needs, and as a result, there is often a surplus of one thing and shortages of others. To compensate, citizens create a black market to trade the things the planners don't provide, which destroys the trust in Marx's pure communism. People no longer feel the government can give "to each according to his needs."

22. Communism Examples: There are few remaining communist countries in the world. They aren't pure communism but are transitioning from socialism, where the state owns the components of supply. According to Marx, that is a necessary midway point between capitalism and the ideal communist economy. Modern communist societies rely on a mixed economy. China Laos Cuba Vietnam North Korea

23. Communism Other Example in history: In 1922, the Union of Soviet Socialist Republics was established . By 1991 the USSR was dissolved. In 1955, the USSR created the Warsaw Pact with other communist military allies. The USSR had many other communist allies. Many became communist in the 1970s but shifted to another form of government after the USSR collapsed. After the collapse of the Soviet Union, Russia changed its constitution to remove references to communism. It describes itself as a democratic republic.