wednesday

capitalism-an economic system and political in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.


communism-a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state. classless-


free enterprise-an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation.




free market-an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies.  today in class we looked up these words and we had to find the definitions and then we talked about each one.

tuesday

today in class we told everybody who missed last class exactly what we did. then we watched some of the video that we started last class. the guy in the movie makes a car called Lifan.

monday

Today in class we got back our essays about the countries that we chose and the relationship with the US. Once we got done looking at that we then watched the rest of our video and we began the third one. The third one started off talking about how one of the people have a professional job which is too build a tunnel by using dynamites. Him and his son works there which they get paid $14 an hour compared to everyone else who only gets paid like $2 a day. Then we would stop the video everyone once in a while and chat about it.