1.
Capitalism
Socialism
Private ownership
Collective ownership
Profit motive
Collective good
Free markets
Planned economy
Discuss the 3 elements of the 2 economic systems listed above (total of 6 elements). Discuss both the positive and negative effects of each
element to weigh them up. Which economic system would you favor? Why?
2.Fully describe the theory (structural functional, social conflict, or symbolic interaction) that you believe is best in explaining how society
works.