Economic concepts of capitalism, socialism, and communism.

This economic approach is determined by supply and demand:

Prices will be kept as low as possible (in theory) because of free competition in-

A country that uses this communism is:

The concept is based on equality, no private ownership, and everyone contributes to production.

Marx believed workers will overthrow capitalists suddenly/violently to make this government:

Goal of this concept is to erase the gap between the rich and the poor

U.S., Canada, Australia, New Zealand, are mostly this concept

The U.S. is purely Capitalist:

Social Security, Medicare, USPS are socialist ideas

This concept is where all systems are privately owned and operated for profit:

German philosopher that founded communism-

This concept is based on principles to correct the problems caused by capitalism.

Common ownership is a central idea to this concept

Communism and Socialism attempt to make people more equal in similar ways