Friday, September 19, 2008

Definitions 9/19/08

Collectivism - a society under the supervision of the government as a whole.

Individualism- an independent belief or thought of an idiviual without the sources of anyone else.

Socialism- an economic system in which the production and distribution of goods are controlled by the government rather than by the community.

Capitalism- an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained by private individuals.

Communism- a system of government in which the state plans and controls the economy and holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.

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