Social Studies
Storyboard Text
- Hi my name is Abby and this is my friend Sadie she moved here last year and we are going to be talking about socialism and capitalism.
- Here in Canada we use capitalism. An economic system where most of the goods and services people need are produced by private companies
- I used to live in Vietnam which there we used socialism.Socialism is a political and economic theory of social organization and exchange should be owned or regulated by the community as whole.
- The friends then went on a walk to talk about the differences between socialism and capitalism.
- Here individual freedom is highly valued
- Back in Vietnam what is best for the group is more important than individual freedom.
- Production of goods and services is in the hands of individuals.
- Production of goods and services is in the hands of the government.
- Whether or not people can meet their needs depends on how wealthy they are.
- Every person should receive enough to meet his or her needs.
- After a long day it starts to get dark but they still have one more example...
- Co-operation is important to help create wealth and improve society.
- Competition is important to help create wealth and society. Well its dark know so im going home i hope you had fun learning bout socialism and capitalism!
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