2.1 Economic Systems Notes

To ensure fair distribution of resources

To increase population

To promote only one type of industry

To eliminate all forms of government

What goods will be produced?

How will the goods be produced?

Who will produce the goods?

For whom will the goods be produced?

In decentralized socialism, the government controls all legal economic activities.

In communism, private property rights are more likely to be taken away.

People are freer to decide where they will work in decentralized socialism.

In communism, the government oversees but does not control every aspect of the economy.