12/6/12

Today we had a pretty good class.We started out with a sub because Mr.Schick  was out for the first mod of class. So, the sub came in and got Darien’s labtop to hook up to the smart board and watch the movie. When we started watching it we heard noice in the background from and add. So we went through a big ordeal to try and get it off but it never worked. Then Parker said the day when she let us use her computer to finish the video. After the video was over Mr.Schick  came and we talked about cars for the second mod of cars.

Word we need to know

Capitalism- an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.

Communism- a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.

Free Market- an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies.

Free Enterprise- an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation.