Business Ethics Homework: The Role of Capitalism
Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Socialism is a political and economic theory of social organization that advocates for the means of production, distribution, and exchange being owned or regulated by the community as a whole (1).
In this homework, you will write a 2 to 3 paragraph essay comparing capitalism and socialism:
1) Briefly define, in your own words, the concepts of capitalism and socialism.
2) Identify three pros and cons of each.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
1) Examine the role capitalism plays in corporate decision making.
Sources
1. William H. Shaw. 2014. Business Ethics: A Textbook with Cases. Wadsworth, Cengage Learning 8th edition textbook.