What are the major differences between capitalism and communism? In order to understand the dynamics of the Cold War, students must fully comprehend the two dominant economic structures that divided the world for over half a century. In this lesson, your students will not only be able to demonstrate their knowledge of the fundamental differences of capitalism and communism, but they will be able to apply it to their understanding of economic practices throughout the world.
Throughout the lesson, students will:
1) Take a brief Bell Ringer Quiz that will determine whether they prefer capitalistic or communist practices.
2) Compare and contrast the fundamental principles of communism and capitalism using a Venn Diagram.
3) Analyze real life scenarios and apply their understanding of communist and capitalist principles to determine what kind of economic structure is in place in these societies.
4) Examine an animated political cartoon for the stereotypical differences it displays regarding capitalism and communism.
6) Finish with an exit ticket that asks them to write about the differences between capitalism and communism OR finish with their own political cartoon drawing that demonstrates the differences between the two economic systems.
Answer Keys Included!