Assignment 2 Capitalism Vs. Socialism Worksheet 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...

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Assignment 2 Capitalism Vs. Socialism Worksheet 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 whereas socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. In this assignment, you will define the roles capitalism and socialism play along with the advantages and disadvantages of each.  In two to three (2-3) paragraphs: · Using your textbook, paraphrase the concepts of capitalism and socialism. Then list three pros and cons of each. 1. Define in your own words the definition of capitalism. a. Pro #1 b. Pro #2 c. Pro #3 d. Con #1 e. Con #2 f. Con #3 2. Define in your own words the definition of socialism. a. Pro #1 b. Pro #2 c. Pro #3 d. Con #1 e. Con #2 f. Con #3 Reference *** Make sure to cite your textbook both in-text and in the references. Refer to SWS if you need help ***