Business Studies Discussion Essay Assignment on The Role of Capitalism

PLEASE FOLLOW ALL DIRECTIONS CORRECTLY AND DO NOT FORGET THE WORKSHEET ATTACHED.

Capitalism is an economic and political system in which a country’s a 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 is owned or regulated by the community as a whole.

In this assignment, you will complete the worksheet (attached) 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 to be used:
William H. Shaw. 2014. Business Ethics: A Textbook with Cases. Wadsworth, Cengage Learning 8th edition textbook.