Capitalism CommunismDefinition An economic system based on An economic system based private ownership of resources on collective ownership of & competition They are both resources & shared wealth ECONOMIC ($) systemsType of Capitalist countries are usually Government needs Communist countries are democratic (people can vote) the people’s usually totalitarian (one leaderGovernment support is in charge)Division of Some people have more than Resources are shared; you get others; you earn $ based on $ from the government basedResources? how you work on what you needWho People who can make a lot of People who Aimed at benefiting the masses money are in power (more people benefit, butbenefits? benefit overall people have less)Examples?Draw an image orsymbol to representeach ideology