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Today in class each group presented their advertising slide show. There we two groups that i was pretty impressed with their slides and information. The two groups who were selling iPhones and chopsticks had a lot of information on what they were selling and where everything was made. My group was trying to sell Cadillac DTS's.

Definitions

Today in class we went over/discussed  the definitions for capitalism, communism, free enterprise, and free market.

Capitalism – An economic and political system when a countries trade and industry are controlled by private owners.

Communism – A revolutionary socialist movement to create a classless and stateless social order structured upon common ownership of the means of production, as well as a social, political and economic ideology that aims at the establishment of this social order.

Free enterprise -An economic system where few restrictions are placed on business activities and ownership.

Free market – A market where the price of a good or service is determined by supply and demand, rather than by governmental regulation.