Definitions

 Capitalism- an economic and political system that is based on private ownership of the means of production and the production of goods or services for profit. Lead by private individuals, Government doesn't tell you what to do.

Communism- A system of government meant to create a classless and stateless social order. Meant to make sure that everybody has enough money, too little or too high.

Free enterprise -An economic system where few restrictions are placed on business activities and ownership.

Free market-  a market where the price of a good or service is determined by supply and demand, rather than by governmental regulation.

The People's Republic of Capitalism

     Today in class we continued watching the YouTube video an moved onto part two of the video. This video is all about the interdependence between the US and China. one important relationship between the US and China is the economy. People in the US are losing jobs because Americans wont work and do hard labor for little amounts of money, but the Chinese will. So, American people lose their jobs because all the these big companies lay people off of their jobs because , why pay more money to receive the same exact labor. But, there's a twist. This may sound bad because Americans are losing their jobs, BUT, since the companies are paying less money to have all of these items made, it costs a much lower price.
   In the video today it talked about the crowdedness of major cities. The automobile industry has just been introduced to China. Before cars, people commuted to destinations by mostly bicycle and by foot. Now with  have automobiles and an immense population, China's road systems are extremely loud, dangerous, and crowded. Also, most people never learned how to drive. So, imagine millions of people who are not particularly good at driving, driving around everywhere.