Graphic organizer with teacher key to help students compare and contrast two economic philosophies: socialism and capitalism. Includes key vocabulary (laissez-faire, the invisible hand, bourgeoisie, etc.), key proponents, the role of government and example countries.
Also included are links to several short video clips which better explain concepts related to socialism and capitalism, including:
Capitalism and Socialism Crash Course
History of Capitalism
Adam Smith’s Philosophy
Free Market Economies
The Factors of Production
Karl Marx’s Philosophy