Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

Describe each system.

Capitalism essentially is built on the premise that nations prosper the most when individuals are allowed as much freedom as possible to make their own economic decisions. These decisions include what to buy, what to produce, what to pay for a product and how much to charge for a product. Pure capitalism rarely functions today since government regulation in the form of labor laws, anti-monopoly laws, and restrictions against price fixing are in place. There is also significant government control over quality and safety guidelines.

Communism or socialism would be the other main economic system. In this system there is little or no individual control over the economy. The government determines what will be produced, how much can/will be charged for goods and services, what job an individual will work at and how much he/she will be paid. Additionally the government usually controls most or all of the industries and utilities considered vital to national productivity. These would include electricity, communications, media, road construction, military etc. As with capitalism, there is really no true 100% communistic nation in the world because it would self-destruct. China tried pure communism in the decades following World War II and nearly brought the economy to a standstill as the bureaucracy tried to micro-manage every aspect of the economy. Today they use a very capitalistic economic system while retaining communism in politics and social engineering.

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M924079

Have any Question? 


Related Questions in Homework Help/Study Tips

This version of the paper will become your final draft and

This version of the paper will become your final draft and will be submitted to your instructor for grading. Be sure your composition meets the following scoring criteria. • Analyze a criminal justice situation from a pa ...

Answer the following questions covering material from ch 14

Answer the following questions covering material from Ch. 14 of Methods in Behavioral Research: 1. What is replication, and what role does it play in increasing the external validity or generalizability of a study? In wh ...

Human services professionals working with diverse

Human services professionals working with diverse populations often face challenges because of the clients' various values and beliefs. Long-established beliefs (and sometimes fears) may influence clients' access to serv ...

Identify two different examples one positive and one

Identify two different examples (one positive and one negative) of social media that has impacted (or interacted with) global criminal justice systems. Create a 12- to 15- slide presentation in which you address the foll ...

Writing assignment instructionsfor this class you are to

Writing Assignment Instructions For this class, you are to write a research paper. It is strongly suggested that you put a great deal of time into this as it is very important that you submit a paper that is detailed, in ...

Assignment prepare for an interview-itassume you are

Assignment: Prepare for an Interview-IT Assume you are employed as a counselor at your local high school. You need to conduct a 30-minute interview with a student who has suddenly had a dramatic decline in her grades. Pr ...

For each of the three most commonly utilized behavior

For each of the three most commonly utilized behavior recording procedures reviewed in this unit (Frequency, Duration, Interval), describe a fictional scenario and problem behavior that is operationally defined and would ...

Crime and deviancemany of societys resources are dedicated

Crime and Deviance Many of society's resources are dedicated to eliminating crime; however, sociologists have different approaches to crime and deviance, including identifying deviance and crime, as well as examining who ...

Paper assignmentintroductionchaim potoks novel the chosen

Paper Assignment Introduction Chaim Potok's novel The Chosen presents a rich, nuanced view of the Jewish faith as it was experienced in the melting pot of New York City in the post-World War I1 era. Although narrated in ...

How to write a research questionplease complete the

How to write a research question Please complete the following sections by typing a response in Arial 12 regular font for each question. Use as much space as you need but remember technical writing is succinct and concis ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen