Capitalism-an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Communism-Communism, political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production (e.g., mines, mills, and factories) and the natural resources of a society.
Socialism- a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Closely resembles socialism because socialism is public
They usually sing <span>spiritual </span><span>songs </span><span />
Three Economic Stances a government may have:
1. Neutral fiscal policy is usually undertaken when an economy is in equilibrium. The budget is balanced, meaning the government is taking in as much revenue as it is spending.
<span>2. Expansionary fiscal policy involves government spending exceeding tax revenue, and is usually undertaken during recessions.
</span>
<span>3. Contractionary fiscal policy occurs when government spending is lower than tax revenue, and is usually undertaken to pay down government debt. </span>
You should have a text book for it and it should have all the answers lined up as you read.
