Question

Economic Systems
The United States is a mostly capitalist nation. Capitalism is a system in which most property is privately owned. In a capitalist system, decisions about what to produce and how much are largely left to private businesses and individuals. The government plays a limited role in the economic decisions of capitalist nations. Capitalism is sometimes called the free-enterprise system, or private-enterprise system.

Countries have economic systems as well as political systems. An economic system is a system for distributing goods and services. The major systems of the modern era include capitalism, socialism, fascism, and communism.

While fascism is the name of a political system used in Italy and Germany through the end of World War II, it is also an economic system. Fascism is an economic system where property is mostly privately owned, but the owners are heavily regulated as to how their property is to be used.

Another kind of economic system is socialism, sometimes called democratic socialism. Under democratic socialism, major industries are owned by the government, or socially. The government heavily regulates private industry, but smaller businesses are privately owned. For example, the government might own the auto industry, but private individuals might own the car dealerships that sell cars to the public.

A form of socialism that is not democratic is communism. Under communism, all property is owned by the government, or socially. In theory, all persons work according to their abilities and are paid according to their needs. Today, communist nations are examples of all-powerful totalitarian dictatorships. However, the theory behind this form of government is that once the people are educated to work according to their abilities and take only what is necessary, then the need for government would slowly fade over time.

Most economies are mixed economies, with both privately owned and publicly owned businesses. Even socialist nations like Sweden have many privately owned businesses. In reality, the former Soviet Union, now the Russian Federation, was never purely communist. There was always some private enterprise. In the same sense, the United States is not purely a capitalist nation, either. Not all business activity in this country is private. Some businesses are entirely publicly owned, and many others are built on partnerships between the private and public sectors.

Answers the following questions to evaluate economic systems.

How is the role of the government different in capitalist and communist nations?

If someone wants to move to a new country to start a business, explain to them what economic system would be the best fit. Explain why.
read the paragraph the awenser the question below
How did the Federalists and Anti-Federalists resolve their differences?
write in one sentence

Answer 1

The Federalists and Anti-Federalists resolved their differences through a series of compromises that ultimately led to the ratification of the U.S. Constitution, including the promise to add a Bill of Rights to protect individual liberties.