Capitalism vs. Socialism

Video of the Week   —   Posted on March 11, 2016

Answer the questions below as you watch the video.

Questions

Dave Ramsey is a financial author and radio host.  In this video Mr. Ramsey explains why capitalism is the best economic system.

1. Complete the statement made by Mr. Ramsey:
“The United States is the largest group of _________________.”

2. Complete the statement made by Mr. Ramsey:
“If your household income is $34,000, you’re in the top ____% of income earners in the world.”

3. Where do those whose household income is $11,000 a year rank among wage earners in the world?

4. List the three things Mr. Ramsey says the U.S. economy has that allowed us to get to this point.

5. Complete the statement made by Mr. Ramsey:
“Whether you believe in God or whether you’re a person of faith or not really doesn’t matter in this discussion. You are still _________________.”

6. Fill in the blanks:
The very essence of our legal system is ___________ based.
The very essence of our economic system is ___________ based.
The very essence of capitalism, when it’s done right, is ___________ based.

7. Mr. Ramsey asserts, “___________ is at the core of capitalism when it’s done properly.”

8. Mr. Ramsey explained that when someone ___________ and ___________ those are Judeo-Christian ethics. He also asserted, “That doesn’t stand true for all forms of faith and it doesn’t stand true for all cultures.”

9. Mr. Ramsey says that capitalism gives the little guy the best shot, at not only survival, but at _____________—in the history of the world.

10. Which two economic systems have not given the little guy the same opportunities, according to Mr. Ramsey?

OPTIONAL:
Ask a parent what he/she thinks about Mr. Ramsey’s statements on capitalism.