https://padlet.com/0519525/6da5xy8ru3l6iv7n Nicole Corrales+Period 4 en-us 2021-05-28 16:24:35 UTC 2025-10-27 15:16:17 UTC hello@padlet.com 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1569011768 2021-05-28 16:28:03 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1569011768 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1569017614 The market economy operates according to the law of supply and demand.
Competion is the drive of the market economy and characteized by freedom of choice, self interests, etc.

]]> 2021-05-28 16:29:50 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1569017614 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577448038
 no government regulations
 -everyone has freedoms of choice, economic efficiency, growth, self-interests. ]]> 2021-06-01 19:32:19 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577448038 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577458912 No system in place to help people who are already at a competitive disadvantage...Ex. elderly, children, and peoplewith mental/physical disabilities.
(economic security isn't easy to get.)]]> 2021-06-01 19:37:04 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577458912 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577512851 - Example of people in the Market Economy.
-It demonstrates that consumers have complete control over what they sell and purchase.]]> 2021-06-01 20:00:20 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577512851 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577526797 The United States of America is the world's strongest market economy. The United States Constitution is one of it's biggest strengths. It contains provisions that facilitate and protect the characteristics of the market economy.]]> 2021-06-01 20:06:33 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577526797 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577535986 Prices are kept low by the force of competition. It also ensures that society's goods and services are delivered in the most efficient manner possible. The rule of demand dictates that when demand for a certain item rises, so do prices. ]]> 2021-06-01 20:11:00 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577535986 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577540218 Competitors recognize that by creating it and increasing supply, they may increase profit. As a result, prices fall to the point where only top competitors can compete for jobs. Buyers compete for the best deal.]]> 2021-06-01 20:12:59 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577540218 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577544051 New York Stock Exchange.]]> 2021-06-01 20:14:49 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577544051 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577546449 2021-06-01 20:16:02 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577546449 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577558746 Traditional economy is an economy which doesn't operate under a profit motive.]]> 2021-06-01 20:22:06 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577558746 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577568943 Economic decisions in traditional economies are based on cultural values and beliefs.
Farming, hunting, and fishing are the foundation of this economy.]]> 2021-06-01 20:26:50 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577568943 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577569689 Several traditional economies have evolved into a mixed system that combines aspects of capitalism, socialism, and communism.]]> 2021-06-01 20:27:12 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577569689 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577574776 -There is little or no conflict among the members. 
-Everyone knows what they're meant to do and how they can assist. 
-A more sustainable economy than one dependent on technology.]]> 2021-06-01 20:29:38 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577574776 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577581758 -Market or command economies that deplete natural resources make them more vulnerable.
-Exposed to changes in nature and weather patterns.]]> 2021-06-01 20:32:54 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577581758 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577590965 Before the Great Depression, the United States had atraditional economy. More than half of Americans resided in farming towns around the turn of the century... 41% of the workforce was employed in agriculture. However, in order to fulfill rising demand after WW1 they adopted ineffective farming techniques... As result, we had a 10 year drought.]]> 2021-06-01 20:37:32 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577590965 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577598812 The Great Depression]]> 2021-06-01 20:41:29 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577598812 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577600475 farming]]> 2021-06-01 20:42:19 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577600475 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577610346 2021-06-01 20:47:03 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577610346 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577616717 The government owns all resources, regulates prices, and directs businesses what and how much to make – all in the name of maximizing the welfare of the population.]]> 2021-06-01 20:50:29 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577616717 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577621460 Less inequality,
Priority of the Common Good vs. Profit Motive, low unemployment levels.]]> 2021-06-01 20:53:11 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577621460 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577623551 Lack of competition inhibits innovation, inefficiency.

]]> 2021-06-01 20:54:20 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577623551 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577631534 The government has a plan for issuing orders to companies. The government also regulates people's income. Because the government owns virtually everything, including land, you won't be able to invest your money.]]> 2021-06-01 20:58:37 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577631534 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577632758 This policy reduces competition in the country, leading in material deprivation in most cases. The government's primary objective, in theory, is not to make money...it aims to take care of its citizens by giving them free or subsidized education, housing, and healthcare.]]> 2021-06-01 20:59:19 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577632758 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577636708 All important economic decisions are made by the government in a command economy. It has complete control over all means of production in a country, including raw materials, money, land, and industry. The government is in charge; the people are left in the dark.]]> 2021-06-01 21:01:25 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577636708 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577641084 north korea is a prime example of a command economy.]]> 2021-06-01 21:03:54 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577641084 0519525 https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577644138 2021-06-01 21:05:45 UTC https://padlet.com/0519525/6da5xy8ru3l6iv7n/wish/1577644138