Ch 28: Types of Economies

About This Chapter

You can review different types of economies with this chapter. These video lessons and quizzes will familiarize you with capitalism, socialism and communism.

Types of Economies - Chapter Summary

This chapter gives you the opportunity to review definitions and examples of several economic forms. You'll find information related to the origins of these economies, as well as lessons that compare the different economies to one another. Our instructors designed these lessons to ensure you understand:

  • Capitalism
  • Socialism
  • Communism

Our lessons were designed by subject-matter experts to cover the important topics associated with economies. These lessons also focus on familiarizing you with the vocabulary words you need to know about this subject. The timeline included with each video allows you to immediately locate the information you'd like to focus on.

8 Lessons in Chapter 28: Types of Economies
Test your knowledge with a 30-question chapter practice test
What is Capitalism? - Definition & Examples

1. What is Capitalism? - Definition & Examples

This lesson explains what capitalism is and gives several examples to help illustrate how capitalism is executed in the business world. After completion of the lesson, take the quiz to gauge your learning.

Origins of Modern Capitalism

2. Origins of Modern Capitalism

In this lesson, we will learn about the origins of modern capitalism. We will see how the modern capitalist system developed, and we will highlight key themes.

Capitalism and the Free Market: Definition & Limitations

3. Capitalism and the Free Market: Definition & Limitations

Capitalism is an economic system that has played a dominant part in building the world in which we currently live. In this lesson, you'll learn about some key concepts of capitalism, as well as its limitations.

Socialism: Definition & Leaders

4. Socialism: Definition & Leaders

This lesson defines and explains the 19th century political ideology socialism. In doing this, it will highlight the roles of the Industrial Revolution and the socialist experiments of Robert Owen and Charles Fourier.

Communism: Definition & Examples

5. Communism: Definition & Examples

In this lesson, we'll learn the meaning of communism while briefly comparing it to capitalism. We'll then discuss different examples of communism. Finally, we'll discuss the significance of communism in the context of the Cold War.

Capitalism vs. Socialism: Differences, Advantages/Disadvantages & the 'Underground Economy'

6. Capitalism vs. Socialism: Differences, Advantages/Disadvantages & the 'Underground Economy'

This lesson explores formal and informal economies by discussing the differences between capitalism, socialism, and the underground economy. Key characteristics, advantages, and disadvantages of these economies will be covered.

Communism vs. Socialism: Similarities & Differences

7. Communism vs. Socialism: Similarities & Differences

People often confuse socialism and communism. In this lesson, you'll learn about the differences and similarities between each of these theories. You'll also have a chance to take a short quiz after the lesson.

Understanding Socialism, Communism, and Mixed Economies: Comparison & Analysis

8. Understanding Socialism, Communism, and Mixed Economies: Comparison & Analysis

Socialism and communism are alternative economic systems to capitalism. In this lesson, you'll learn some of the key concepts behind these economic systems. You'll also learn about mixed economic systems.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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