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Magna Carta
the royal charter of political and civil liberties granted by King John in 1215 guaranteeing basic rights. system of government and economy characterized by the collective ownership of property and no rights of private property ownership. system of social organization in which the production and distribution facilities are owned collectively by the people and run by a centralized government; with some recognition of personal property. ownership by a group for the benefit of all the members of that group. the appointment of family members, friends, and associates to positions of authority without proper regard to their qualifications.
communism
socialism
collective ownership
cronyism
Lesson Objectives By the end of this lesson the student will be able to: 1. State the key features of capitalism. 2. Present one key theory why capitalism took root in the West. 3. Summarize the arguments of capitalism’s critics. 4. Match socially conscious capitalism terms and tenets with their definitions. 5. Tell about the role and goals of the U.S. Chamber of Commerce. Gaining Attention You’ve probably heard of capitalism . Maybe you’ve heard the word in the news or studied a little about it in your history class. You know that it has something to do with money, or the economy, or politics… (Take an informal poll) “Raise your hand if you think capitalism is __________:” A. a political system B. a form of government SLIDE 7G PRODUCT PREVIEW SLIDE 7F
C. a social movement D. an economic system You’ll find out in this lesson!
Communicating Objectives By the conclusion of this lesson, you will be able to state the key features of capitalism, and present one important theory why capitalism took root in the West. You will also be able to summarize what it is about capitalism that its critics find repugnant, and how some capitalists are using capitalism as a force for good in the world. You will also be able to tell about the role and goals of the U.S. Chamber of Commerce.
Lesson 7 | Commerce Capitalism 112
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