Meaning of Capitalism and Socialism
Government S.S.S.1 First Term
WEEK 5
Meaning of Capitalism and Socialism
Performance Objectives
Student should be able to:
1. Explain the meaning of Capitalism and Socialism.
2. State the difference between Capitalism and Socialism.
Capitalism
The term Capitalism is the economic system in which the means of production, exchange and distribution of goods and services lies in the hands of private persons, where government's participation is very low.
Characteristics of Capitalism
The following are the characteristics of Capitalism:
1. Means of production lies in the hands of private individuals.
2. Many producers are involved.
3. Individual source for capital to produce.
4. Choices of commodities are made by the.... View More
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- Meaning of Government
- Basic Concepts of Government
- Basic Concept Continuation - Democracy.
- Basic concepts continued – Political Participation, Communalism, Feudalism
- Meaning of Capitalism and Socialism
- Meaning and History of Communism, Fascism and Totalitarianism.
- Government SSS1 First Term Mid-Term Assessment
- Test
- Types and Characteristics of Government
- Types and characteristics of Government (Contd.)
- Types of Government (Contd)
- Organs of Government(Legislature)
- Organs of Government (Executive)
- Organs of Government (Judiciary)
- Government SSS1 First Term Final Assessment
- Test
- Chapters 14
- Category SSS1
- Author ClassNotes Edu
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