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.