SOCIALISM

Ken 9-7

What is socialism Socialism is an economic system that is

heavily based on the state The government are the dominant power

of the trading and market system in the country

Where can it be found They are commonly found in country that

are a communist country When the government is the dominant

power, that’s when socialism can be found since they have no one to correct what they are doing

Type of socialism There are basically two type of socialism Socialism that benefit the country

depends on the leader, if the leader are working for the country and not working for his own benefit that would be a good thing

Socialism that doesn’t benefit is when the leader is working for his own benefit and is not working for the country benefit

How does it relates to trading

When the government takes controlled of the business, most people doesn’t like to do their own business anymore since they could not trade freely without the government interfering

If the government is interfering in a good way like supporting the trading system of the country, they will benefit the country

Example Vietnam is a socialism country during the

control of Pol Pot. China during the control of Mao is also a

socialism because he took control over most of the thing