Economic concepts of capitalism, socialism, and communism.

German philosopher that founded communism-

A country that uses this communism is:

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

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

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

Social Security, Medicare, USPS are socialist ideas

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

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

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

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

Common ownership is a central idea to this concept

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

The U.S. is purely Capitalist:

This economic approach is determined by supply and demand: