full transcript

From the Ted Talk by TED-Ed: Is capitalism actually broken?

Unscramble the Blue Letters


Each one of these machines represents the economic system of a country.

Every machine has three inputs:

lobar, people’s work. Capital, all the stuff that a business might use, including iliegtnbnas, like ideas. And natural resources. The machine cvnrteos these inputs into goods and services, and because we’re willing to pay for the things the micahne produces, what the machine is really creating here is value. Economies turn inputs into value.

What dneiemrtes whether the machine is cptsaiailt, communist, socialist, or something else? Three dials.

The first dial controls who owns the capital. Over here, the government owns every bit of capital, down to the last office paperclip. North Korea is probably the closest economy to 0%. On the other end of the spectrum, at 100%, private czinetis own all the capital. The US is about here, at roughly two-thirds pitrave ownership.

Open Cloze


Each one of these machines represents the economic system of a country.

Every machine has three inputs:

_____, people’s work. Capital, all the stuff that a business might use, including ___________, like ideas. And natural resources. The machine ________ these inputs into goods and services, and because we’re willing to pay for the things the _______ produces, what the machine is really creating here is value. Economies turn inputs into value.

What __________ whether the machine is __________, communist, socialist, or something else? Three dials.

The first dial controls who owns the capital. Over here, the government owns every bit of capital, down to the last office paperclip. North Korea is probably the closest economy to 0%. On the other end of the spectrum, at 100%, private ________ own all the capital. The US is about here, at roughly two-thirds _______ ownership.

Solution


  1. converts
  2. capitalist
  3. private
  4. citizens
  5. labor
  6. intangibles
  7. determines
  8. machine

Original Text


Each one of these machines represents the economic system of a country.

Every machine has three inputs:

labor, people’s work. Capital, all the stuff that a business might use, including intangibles, like ideas. And natural resources. The machine converts these inputs into goods and services, and because we’re willing to pay for the things the machine produces, what the machine is really creating here is value. Economies turn inputs into value.

What determines whether the machine is capitalist, communist, socialist, or something else? Three dials.

The first dial controls who owns the capital. Over here, the government owns every bit of capital, down to the last office paperclip. North Korea is probably the closest economy to 0%. On the other end of the spectrum, at 100%, private citizens own all the capital. The US is about here, at roughly two-thirds private ownership.

Frequently Occurring Word Combinations


ngrams of length 2

collocation frequency
climate change 4
dial controls 2
wide range 2
fossil fuels 2
companies denied 2
income earners 2


Important Words


  1. bit
  2. business
  3. capital
  4. capitalist
  5. citizens
  6. closest
  7. communist
  8. controls
  9. converts
  10. country
  11. creating
  12. determines
  13. dial
  14. dials
  15. economic
  16. economies
  17. economy
  18. goods
  19. government
  20. ideas
  21. including
  22. inputs
  23. intangibles
  24. korea
  25. labor
  26. machine
  27. machines
  28. natural
  29. north
  30. office
  31. ownership
  32. owns
  33. paperclip
  34. pay
  35. private
  36. produces
  37. represents
  38. resources
  39. roughly
  40. services
  41. socialist
  42. spectrum
  43. stuff
  44. system
  45. turn
  46. work