1. Communism
1.1. Communism can be defined as a a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs
1.1.1. Examples of Communism Countries
1.1.2. People's Republic of China, North Korea, Socialist Republic of Vietnam, Lao People's Democratic Republic, and Republic of Cuba
2. Capitalism
2.1. Capitalism can be defined as a economic and political system in which a country's trade and industry are controlled by private owned for profit.
2.1.1. Examples of Capitalism Countries
2.1.2. United States, Hong Kong, New Zealand and Switzerland
2.1.2.1. Pros and Cons of Capitialism
2.1.2.2. Pros
2.1.2.3. Most effective way of displaying the best products for the best prices
2.1.2.4. Capitalism encourages innovation. The freedom this economic system allows the individual the ability to venture off instead of being governed and controls by the government they service. Which in turn allows for a variety of products and services to be readily available for the consumers they service.
2.1.2.5. Cons
3. Socialism
3.1. Socialism can be defined as a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
3.1.1. Examples of Socialism Countries
3.1.2. China, Denmark, Finland, and the Netherlands