December 7th 2012 BLOG

Today in human geo. we watched more of the people’s republic of capitalism, we finished watching the rest of the first one  I think, it was mainly talking about how china deals with buying and selling cars, 80% of chines are buying their first car at a older age. China likes smaller cars because of most people who can afford a car live in the city and there’s no room in the city for cars anyway, but America doesn’t buy that many chines car because they don’t meet the standard that cars must have to be drove in America. Although cars that are made in china that America buys are put on a large ship and sailed over the pacific ocean on onto the west coast.

December 5th 2012 BLOG/WORDS

Capitalism:  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 corm: porations, especially as contrasted to cooperatively or state-owned means of wealth.

Communism: 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 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 government alintervention and regulation.

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